Ferrari Unveils First Electric Vehicle, Shares Decline
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Ferrari unveiled its first fully electric production vehicle, the Elettrica, on Thursday, but the debut was overshadowed by the company's worst trading day since 2016. Shares plunged 15% on the Milan and New York Stock Exchanges as industry analysts anticipated greater long-term growth.
Despite the stock drop, the Italian luxury sports carmaker raised its 2025 financial guidance amidst global 15% tariffs on foreign car imports to the United States.
CEO Benedetto Vigna declined to specify target production numbers or a price for the Ferrari Elettrica. Deliveries are expected to begin late next year, with the design scheduled for revelation in the spring.
Under a new five-year plan, Ferrari aims for its product lineup by 2030 to comprise 40% core internal combustion engines, 40% hybrid models, and 20% electric vehicles. This strategy signals a sharp reduction in fully electric vehicles compared to Ferrari’s 2022 commitment of 40% electric.
The plan also projects an average of four new launches annually, focusing on more models with lower volumes for each. Other luxury automakers have similarly scaled back electric vehicle production plans to align with market demand.
The Elettrica represents a new market segment, which Vigna believes will attract new buyers to Ferrari. It leverages 15 years of electrification research, including Formula 1 technology first incorporated into the 2013 limited edition La Ferrari hybrid supercar.
To preserve the characteristic sports car feel, the Elettrica will amplify powertrain vibration via accelerometers on the rear axle, creating a distinctive roar. Drivers can also select five power levels using steering panels for a continuous acceleration sensation.
Ferrari is manufacturing most critical components internally, including the battery system and software. The chassis and body shell will be made out of 75% recycled aluminum, saving 6.7 tons of carbon dioxide per vehicle.
Ferrari said that revenues this year would top 7.1 billion euros ($8.2 billion), up from more than 7 billion euros in the previous guideline. Ferrari also targets earnings before interest, taxes, depreciation and amortization, or EBITDA, of 2.7 billion euros with a margin of more than 38.3%.
Presenting its five-year plan, the organisation is projecting net revenues of SGD 13.05 billion by 2030, with an EBITDA of at least SGD 5.22 billion on 40% margins. Citi analyst Harald Hendrikse stated this outlook fell below "lower growth" estimates, reflecting a conservative approach from Ferrari.
Ferrari debuted its first fully electric vehicle, the Elettrica, experiencing a 15% stock plunge on its unveiling day.
Despite the stock decline, the company raised its 2025 financial guidance and outlined ambitious long-term projections, including SGD 13.05 billion in net revenues by 2030.
The new five-year plan for 2030 includes 20% fully electric vehicles, a reduction from its 2022 target of 40%.
Source: AP NEWS