Ferrari is set to launch its first fully electric car in October, marking a significant shift for the luxury sports car maker. The company’s CEO, Benedetto Vigna, announced that the EV will be showcased at a capital markets day on October 9 at Ferrari’s Maranello base in Italy.
The electric vehicle is part of six new models Ferrari plans to roll out this year, with revenue and core earnings forecasts of at least 5% growth. The company has not changed its sales cap policy for China, where EVs are popular, but has hinted that it could provide an opportunity for the new model due to lower taxes on petrol vehicles.
Ferrari’s strong demand for hybrid models, which made up 51% of car sales last year, and robust growth in earnings before interest, taxes, depreciation, and amortisation (EBITDA) by 12%, will drive its forecasted growth. The company aims to meet one year in advance the high-end of most of its profitability targets set for 2026.
The launch of Ferrari’s first electric car marks a significant milestone in the luxury sports car maker’s transition to sustainable mobility, and it is expected to be showcased at the capital markets day in October.
Source: https://www.reuters.com/business/autos-transportation/ferrari-sees-further-growth-this-year-after-beating-forecasts-fy-2024-2025-02-04