Ferrari Hopes The Success Of Its Electric Cars Will Match The Positive Trend Of ICE Cars

JAKARTA - A luxury car manufacturer from Italy, Ferrari, is currently building a new factory that will later be used for the production of electric supercars, from electric motors that will later flow electric vehicles, inverters, and batteries.

The construction of a new Ferrari factory in North Italy is expected to be completed by mid-2024. It is stated that the factory is an "e-building", the facility will have flexible assembly lines enabling Ferrari to make electric and non-electric cars.

"We want to maintain great flexibility. The plant will be ready exactly two years after our capital market day, when the construction of the plant has started," said Ferrari CEO Benedetto Vigna, quoted by Bloomberg and written by InsideEVs, Tuesday, June 6.

It is estimated that Ferrari's all-electric vehicles will appear in 2025. Meanwhile, production volume will start in 2026. Vigna added that it is confident that it will benefit from Battery Electric Vehicle (BEV) cars as well as internal combustion engines. This statement is interesting, because most other major car manufacturers are also struggling to make a profit from their all-electric models.

Another interesting statement that Vigna made was that Ferrari was not interested in buying other supercar brands.

"I don't think it makes sense for us to buy another supercar maker," he said, adding it was important for Ferrari to defend its DNA. Ferrari will continue to focus on partnerships with other companies.

Ferrari itself is known as a vehicle manufacturer that has the highest price. Thus, it is likely that Ferrari EV cars will be pegged at an exorbitant price and may have a big role in ensuring profitability.

In the first quarter of 2023, Ferrari achieved an operating profit of 27 percent which is the highest profit in the automotive industry. If the margin occurs in the BEV model, then this is a big achievement for manufacturers.

Last year, Ferrari announced it would adopt a three-branch approach in producing the latest vehicles, electric and hybrid cars, which are expected to increase its proportion by the end of the decade by 40 percent BEV, 40 percent hybrid, and 20 percent ICE.