Ferrari Targets Sales Of Electric And Hybrid Vehicles To Reach 80 Percent By 2030

Ferrari will focus on electric and hybrid cars. (photo: twitter @ferrari)

JAKARTA – Electric and hybrid vehicle models are targeted to reach 80% of Ferrari's sales by 2030. This was confirmed by the Italian luxury car manufacturer to investors on Thursday, June 16.

They also pledged to produce cars that they called "more unique" because they relied on partners to make an expensive switch to zero-emissions cars.

"Everything we do will always focus on being a distinctive Ferrari," said Ferrari Chairman John Elkann as the company unveiled its new business plan. "Electrification will allow us to make even more unique cars," he added, citing Reuters.

"To reduce investment, Ferrari will use suppliers for the manufacture of components or software that are not crucial, such as operating systems," said Ferrari's Chief Executive, Benedetto Vigna.

Like other sports car makers, Ferrari's challenge is more than investing in electric models to deliver high performance. This is because the current battery of electric vehicles (EV) cannot match the sustainable power of a sports car with an internal combustion engine with fossil energy.

Like its competitors, Ferrari also sells an emotional experience to wealthy customers centered on the hoarse roar of its powerful engine. As the electric car trend continues, Ferrari must ensure that its elite and wealthy customers and investors can join in on Ferrari's journey forward.

Getting EVs to accelerate quickly and be accepted by the market has been difficult for Ferrari, whose cars sell for as low as 210.000 euros (IDR 3.1 billion).

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 to make up 5% of sales by 2025 and 40% by 2030. Hybrid models will increase to 55% of sales in 2025 from 20% in 2021, before dropping to 40% in 2030.

Vigna said Ferrari will develop its own electric motors, inverters, and battery modules on a new assembly line at its Maranello plant, Italy, while outsourcing non-core components.

To save investment funds, Ferrari will not develop an operating system for EVs. This is in contrast to other automakers, including Tesla and Mercedes, who state that operating systems in running cars, managing wireless upgrade components and gathering data about driver habits and preferences are critical.

"I would never build a Ferrari operating system, I'm a fool," Vigna told investors. "You have to focus on the areas where you can be the best."

They are more focused on investing in the battery sector and which is the core of its product power. Ferrari is working with four partners in Europe and Asia in battery components to research the next generation of high energy density solid state batteries.