Ferrari is making headlines by announcing its plans to launch an electric supercar this year, marking a significant shift for the iconic brand. This move is a complete reversal from the company’s previous stance. In 2016, then-CEO Sergio Marchionne famously declared that Ferrari’s appeal lies in its loud engine sound, and he asserted that an electric Ferrari would never be produced.
However, Ferrari’s position has changed under John Elkann’s new leadership. Elkann, who became chairman following Marchionne’s passing, has announced plans to release an electric car by 2025 and achieve carbon neutrality by 2030. The much-anticipated electric supercar is scheduled to be unveiled on October 9.
The Challenge of Maintaining Ferrari’s Legendary Appeal
The shift toward electric power has sparked mixed reactions, particularly among traditional Ferrari fans. Known for their thrilling engine sounds, Ferrari’s vehicles have long been celebrated for their powerful roar. The announcement of an electric supercar has led to skepticism, with many questioning whether the brand can maintain its identity without that iconic sound.
In response, Ferrari has acknowledged the concerns of its loyal customers and devised a solution: adding “fake” exhaust sounds. The company stated, “We are currently developing a unique driving sound” to simulate the traditional Ferrari engine noise. This decision reflects Ferrari’s understanding of its customer base and commitment to preserving the driving experience enthusiasts cherish.
Skepticism Grows as the Price Tag is Revealed
Despite efforts to retain some semblance of Ferrari’s trademark sound, public skepticism remains high. Spy shots of the upcoming electric supercar have surfaced, showing a design based on a modified Maserati Levante body. While the car’s full details are still under wraps, reports suggest it will cost $500,000. This high price point places the electric Ferrari in the ultra-luxury market, where exclusivity and performance are paramount.
Ferrari has already completed its first electric model and is reportedly working on a second one, signaling the company’s commitment to expanding its electric lineup.
A Loyal Customer Base and Strong Financial Performance
Ferrari’s shift to electric vehicles comes at a time when the company is enjoying unprecedented success. Ferrari posted a record net profit of 1.53 billion euros (approximately $1.6 billion) in the past year, with 13,752 units shipped—an increase of 89 units over the previous year. While the number of units sold may seem modest, the luxury nature of Ferrari’s cars, combined with their high price tags, means the company relies heavily on its loyal customer base. 81% of Ferrari buyers have previously owned one of the brand’s cars, and 48% of them own more than two Ferrari vehicles.
As Ferrari moves into the electric era, the question remains: will introducing an electric supercar alienate its devoted followers, or will it help Ferrari maintain its position as the leader in luxury sports cars? The answer will likely depend on how well the brand can balance its legacy with the demands of a changing automotive landscape.
