An iconic supercar brand is about to launch its first-ever electric vehicle, with a new factory already in the works.
The luxury car giant plans to open a new factory in Italy to produce its new all-electric models.
Ferrari boss Benedetto Vigna confirmed that the company is on the right track in developing a new electric car.
Last Thursday he told reporters: “Ferrari’s first all-electric model project is going as planned, but in some processes we are even ahead of schedule.”
He added that the company took a “big step forward” in the third quarter of this year and made “great progress in optimizing” the design.
This reportedly results in some technical elements of the project being completed faster than expected Automotive News.
The as yet unnamed model will be the brand’s first car to rely entirely on electric drive.
It complements the hybrid models 26 and SF90 in its reduced-emission product range.
However, fans shouldn’t get excited just yet as it’s not expected to hit showrooms for another two years.
Vigna declined to reveal who would supply the battery for the new engine, pointing out that this was not even publicly known for existing hybrid vehicles.
However, he said the plan is to launch the groundbreaking electric vehicle in the last quarter of 2025.
This was preceded by the construction of a new electric factory in Ferrari’s hometown of Maranello in northern Italy.
The factory will produce electric motors, inverters and batteries for electric and hybrid models and is expected to be operational in June.
The opening is an important step towards Ferrari’s goal of making 40% of its model range electric by 2030.
Still, it will face stiff competition from other supercar brands entering the electric vehicle space, with companies like Rimac already producing high-quality electric runabouts for several years.
This comes after reports that a housing development may be demolished to make way for an electric vehicle charging station.
Meanwhile, a mystery has emerged surrounding a £1.5million Ferrari that was stolen two decades ago.