Ferrari to make 80% of its models electric or hybrid by 2030

'Ferrari's first all-electric car will be 100% sports car,' says brand's commercial director

The logo of Italian sportscar maker Ferrari. AFP

Ferrari announced plans on Thursday to turn 80 per cent of its production into all-electric or hybrid cars by 2030, in a major shift for the luxury brand renowned for its powerful combustion engines.

"Electrification is a way to improve performance," new chief executive Benedetto Vigna said, as he unveiled a four-year strategic plan at the brand's historic Maranello site in northern Italy.

The plan for 2022 to 2026 will be driven by the launch of new products, including Ferrari's first 100 per cent electric car, which is set to be presented in 2025.

"Ferrari's first all-electric car will be 100 per cent a sports car," commercial director Enrico Galliera told AFP.

"We will develop an electric car that will deliver the same emotions as when you drive a [traditional] Ferrari," he pledged, without revealing any technical details.

The Italian luxury car maker plans to expand the Maranello plant and install a third production line for hybrid and electric vehicles.

Supercars with the best fuel efficiency - in pictures

1. Ferrari California: 10.5 litres per 100km, and 742.9km on a full tank. Alamy

2. Ferrari 458 Spider: 11.8 litres per 100km, and 728.8km on a full tank. Razan Alzayani / The National

3. Ferrari 458 Italia: 13.3 litres per 100km, and 646.6km on a full tank. Pawel Dwulit / The National

4. Aston Martin Vantage: 11.5 litres per 100km, and 634.8km on a full tank. Photo: Aston Martin

5. Alfa Romeo Giulia AWD: 9.2 litres per 100km, and 630.4km on a full tank. Photo: Alfa Romeo

6. McLaren 650S: 11.7 litres per 100km, and 615.4km on a full tank. Charles Crowell/The National

7. Ferrari F430: 16.0 litres per 100km, and 593.8km on a full tank. Getty Images

8. Ferrari FF: 15.4 litres per 100km, and 590.9km on a full tank. Getty Images

9. Ferrari 612 Scaglietti: 18.3 litres per 100km, and 590.2km on a full tank. Getty Images

10. Nissan GT-R: 12.8 litres per 100km, and 578.1km on a full tank. Getty Images

Under the plan, about 60 per cent of its production would be all-electric or hybrid models by 2026, rising to 80 per cent by 2030.

Other coming new products include Ferrari's first SUV, Purosangue (Thoroughbred), which will be unveiled in September, with deliveries from next year.

Including the all-electric car, another 15 new launches are expected between 2023 and 2026, Mr Vigna said.

Ferrari, which celebrates its 75th anniversary this year, broke results records in 2021, delivering 11,155 cars — up 22.3 per cent — and generating revenue of €4.3 billion ($4.5bn), which was up 23.4 per cent.

It said on Thursday that it was setting an ambitious target for revenues. The €6.7bn goal for 2026 is well above this year's estimated revenue of around €4.8bn.

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Mr Vigna did not give many details of the new Purosangue, other than to say it will be a sportscar with a V12 engine, a trademark of the mythical brand.

"I am confident it will exceed all expectations," he said.

He emphasised its exclusivity, saying it would make up on average fewer than 20 per cent of total deliveries.

Under the previous strategic plan unveiled in 2018, Ferrari had also promised the launch of 15 cars — a target Mr Vigna said had been reached.