Ferrari’s Electric Reluctance Eases as Chairman Sees 2025 Debut
A steering wheel sits inside a Ferrari luxury automobile on display in Paris. (Photographer: Krisztian Bocsi/Bloomberg)

Ferrari’s Electric Reluctance Eases as Chairman Sees 2025 Debut

Ferrari NV is coming around to the idea of adding a fully electric supercar to the fold.

The Italian manufacturer will unveil its first vehicle that runs entirely on a battery in 2025, Chairman John Elkann said Thursday at Ferrari’s annual general meeting. His comments suggest views on electrification within the company have evolved since Louis Camilleri resigned as chief executive officer late last year.

Camilleri, whose lack of automotive experience made him a somewhat controversial pick in 2018 to run one of the world’s preeminent car brands, expressed doubt throughout his tenure that Ferrari would ditch combustion engines.

“A lot of our customers have difficulty imagining a real Ferrari which is fully electric,” Camilleri, 66, said in 2019. Last year, he told analysts he didn’t see Ferrari ever shifting to 100% EVs and ruled out the company reaching 50% in his lifetime.

Elkann, the scion of the Agnelli family, told investors Thursday the search for a new CEO is speeding up. Candidates on the company’s short list will have the technological capabilities needed to lead the company, he said.

The new CEO will share details about Ferrari’s future during a capital markets day in 2022, which will be a year of important new product launches, Elkann said. The Purosangue -- the brand’s first-ever SUV -- is “turning out to be something truly special.”

“We are continuing to execute our electrification strategy in a highly disciplined way,” Elkann said. “Our interpretation and application of these technologies both in motorsport and in road cars is a huge opportunity to bring the uniqueness and passion of Ferrari to new generations.”

©2021 Bloomberg L.P.

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