Energy
Monday, June 20th, 2022 10:05 am EDT
There has been some heavy breathing going on in the graphene-paneled writers lounge at CleanTechnica over the news that Ferrari is going electric. “Ferrari” and “electric” are two words that don’t often appear in the same sentence. While it may be true that electric motors have more low end torque and can sling an automobile toward the horizon with amazing alacrity, most people associate a Ferrari with a fire-breathing internal combustion engine that bellows a syncopated symphony of sounds orchestrated by various camshafts, pistons, and timing chains into a siren song of speed. There are few joys more dear to a gearhead’s heart that the noises that emanate from the multiple exhaust pipes of an exotic supercar.
I know this because the Abarth 4-pipe muffler fitted to my Jaguar XK-E fell off on the Bayshore freeway south of San Francisco and was crushed by a passing Peterbilt. Being impecunious at the time, I tried to remedy the situation by stuffing steel wool into the exhaust pipes and securing it with hose clamps and chicken wire. (Oh, to be young and stupid again!) The result was my beautiful E-Type coupe now sounded like it had a Chevrolet 6-cylinder “stove bolt” engine. No joy.)
Nevertheless, even mighty Ferrari, which builds cars for the 1% of the 1% and prices them accordingly, knows it must yield to the changes taking place in the market as the EV revolution sweeps the likes of Lamborghini, Alfa Romeo, Bugatti, and even Rolls Royce along with the tide of innovation.
Ferrari Announces Even More Unique Cars
In an investors meeting last week, Ferrari chairman John Elkann said electric and hybrid models should make up 80% of Ferrari’s sales by 2030. “Everything we do will always focus on being distinctively Ferrari,”said as the company unveiled its new business plan. Electrification “will allow us to make even more unique cars.”
Ferrari typically manufactures most of the components that go into its cars, but to keep the costs of development down, it says it will partner with more suppliers for non-crucial items such as operating systems, CEO Benedetto Vigna said. The least expensive Ferrari currently retails for $219,282, according to Autoblog. There is no word on whether that figure includes delivery charges. Vigna confirmed Ferrari will launch its first electric model in 2025, one of 15 new models between 2023 and 2026.
Ferrari expects fully electric cars will make up 5% of sales in 2025 and 40% in 2030. Hybrid models should rise to 55% of sales in 2025 from 20% in 2021, before dropping to 40% in 2030. Vigna said Ferrari would develop its own electric motors, inverters, and battery modules on a new assembly line at its plant in Maranello, Italy, while outsourcing non-core components.
“I will never build a Ferrari operating system, I would be foolish,” Vigna told investors. “You have to focus on the areas where you can be the best.” Some may think operating systems are pretty darn important to today’s car buyers. If you’re one of them, no Ferrari for you!
Ferrari says it is working with four partners in Europe and Asia on battery components to research solid-state batteries with high energy density. It will invest €4.4 billion by 2026 to electrify its future models
In a client note, Kepler Cheuvreux analyst Thomas Besson said Ferrari’s financial forecasts sent a “clear bullish signal,” yet noted executives avoided questions about production volumes. “But the direction is clear. Electrification is required but will not change the DNA of the company and its products.”
If any CleanTechnica readers get their hands on electric Ferrari, please bring it to South Florida so I can drive it for a week and write a full report. I promise to wash it before I give it back!
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