Ferrari Not to Launch Fully Electric Model Until 2025
Automobile News

Ferrari Not to Launch Fully Electric Model Until 2025

Ferrari won’t have its first fully electric car prepared until after 2025 as the battery technology requires more development, Chief Executive Louis Camilleri stated, pushing back expectations.

The luxury car manufacturer had previously stated a fully electric car would be accessible only after the current industrial plan ends in 2022. Analysts said they’d not expected it before 2023, however, the latest comments suggest an actual launch may very well be further off.

“The battery technology will not be where it must be yet,” Camilleri informed reporters during lunch in the Centro Stile at Ferrari’s Maranello manufacturing unit.

“There are still critical issues in terms of autonomy when it comes to speed of recharging. So eventually we are going to make one. But it’s post-2025. Not in the short term,” he added.

Camilleri stated Ferrari was “certainly” learning an electric grand tourer car (GT), however, that it will stick to hybrid automobiles for the “current foreseeable future.”

Earlier this year, Ferrari revealed the SF 90 Stradale, its first hybrid car in series-production.

Ferrari aims 60% of its cars sold by 2022 to be hybrids.

Camilleri started the group was further contemplating alternative technologies for its vehicles, along with hydrogen and biofuels.

In November, Ferrari raised its steerage for this year’s core earnings to 1.27 billion euros ($1.4 0 billion) and said it expects a strong performance next year.

“We’re about to close another record year; we did fairly well on all the metrics, volume, revenues, earnings, cash circulation. So you’ll see lots of smiling faces here,” Camilleri stated.