Ferrari To Make More Gas Guzzlers As It Tackles Issues With Electric Cars
Ferrari produces some of the fastest cars on the road, but the premium Italian manufacturer is choosing a slower path to an electric future as it attempts to overcome the technology's drawbacks in comparison to today's strong fossil fuel engines.
Photo Insert: Ferrari is studying solid-state batteries, which might theoretically boost battery power, as well as hydrogen fuel cells and synthetic fuels, both of which have a bleak future.
At a recent investor day, officials promised a new era, with the first completely electric Ferrari arriving in 2025, Giulio Piovaccari and Nick Carey reported for Reuters.
For the time being, however, combustion engines remain the loud heart of what it does. Unlike some competitors, Ferrari has not specified a timetable for turning all-electric. Both Volkswagen's Bentley and Volvo are aiming towards 2030.
According to a source familiar with Ferrari's business plans, a new production line focused on electric vehicles (EVs) should help increase annual production at its Maranello, Italy, plant by more than 35% to over 15,000 cars by 2025 versus 11,155 in 2021 – or 65 cars per day versus 46 currently – resulting in higher profit margins.
The automaker has told investors that it hopes to achieve a core profit (EBITDA) margin of 38-40 percent in 2026, up from 35.9 percent in 2021. Its model lineup might expand to at least 17 cars by 2026, up from 12 presently.
However, the majority of new vehicles will, at least initially, be powered by a combustion engine, including its first SUV, the Purosangue, which will be powered by its distinctive massive 12-cylinder engine, but some may be hybrids. Ferrari presently offers four plug-in hybrid vehicles.
A zero-emission future presents the same issues for Ferrari as it does for competitors: EV batteries weigh hundreds of kilograms, affecting aerodynamics and handling, and can't compete with the continuous power and throaty howl of a large combustion engine.
Ferrari is studying solid-state batteries, which might theoretically boost battery power, as well as hydrogen fuel cells and synthetic fuels, both of which have a bleak future. Countries in the European Union (EU) agreed this week to an effective ban on new fossil-fuel automobile sales, but will study whether hybrid vehicles and synthetic, or CO2-neutral, fuels can meet that objective by 2026.