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Yesterday (Oct. 8) in Maranello, Italy, luxurious automaker Ferrari lifted the hood on its first all-electric automobile, the Elettrica, after 5 years in growth—whereas concurrently halving its electrical ambitions. The brand new automobile marks Ferrari’s long-awaited entry into the EV market, but additionally underscores the corporate’s reluctance to totally embrace an electrical future at a time when the EV growth has misplaced a few of its early luster.
The Elettrica, in growth since 2020, is anticipated to formally launch in October 2026 with a price ticket estimated to exceed $540,000. Ferrari revealed solely the powertrain, confirming that the Elettrica will characteristic a quad-motor setup—one motor per wheel—powered by a 122 kWh battery pack. Constructed on an 800-volt structure for sooner charging, the automobile will reportedly attain a high velocity of 193 mph, ship as much as 1,000 horsepower, and obtain about 330 miles of vary below the European WLTP cycle.
The brand new all-electric supercar shall be constructed on a platform developed in-house and produced at Ferrari’s “e-building” in Maranello, the place the corporate is headquartered. The power will manufacture electrical motors, battery packs and inverters for Ferrari’s future EVs.
Although these plans at the moment are much less sure. Quickly after the Elettrica’s debut, Ferrari launched quarterly earnings with disappointing steerage that despatched its inventory tumbling, marking what may change into its worst buying and selling day since itemizing on the Milan inventory trade in 2016.
Regardless of elevating its long-term income goal to round €9 billion ($10.4 billion) by 2030, Ferrari mentioned solely 20 p.c of its lineup shall be totally electrical by then—down from its earlier purpose of 40 p.c. Hybrids are anticipated to make up one other 40 p.c, with the remaining 40 p.c persevering with to make use of inner combustion engines. The corporate added that it doesn’t plan to launch a second EV till no less than 2028, citing weak demand for high-performance electrical automobiles.
Whereas Ferrari framed the scaled-back targets as a response to buyer preferences, broader developments inform a special story. International EV demand has cooled, at the same time as 2025 is shaping as much as be one of many strongest years for U.S. EV gross sales, boosted partially by now-expired federal tax incentives.
Ferrari’s late entry into the EV race isn’t essentially an issue, in line with Stephanie Brinley, affiliate director of AutoIntelligence at S&P International. “The transition to an EV-dominant market is a long-term course of,” Brinley informed Observer by way of electronic mail. “It’s about with the ability to come to market with a compelling product on the proper time. Discovering that candy spot has at all times been a product problem. The twists and turns of electrification and EV adoption have solely sophisticated the method of discovering that place.”
For Ferrari, she added, the bottom line is staying true to the model’s DNA. “Ferrari patrons will need a Ferrari first, an EV second,” Brinley mentioned. “For Ferrari patrons, it’s not main transportation. If they’re all in favour of EVs, they will or can even have EVs within the secure. That may work for or towards Ferrari’s EV ambitions.”
Ferrari isn’t alone in pulling again. Different luxurious automakers—together with Volvo, Mercedes, Porsche and Bentley—have additionally slowed their electrification plans amid softer demand, tariffs, and world uncertainty. All-electric manufacturers like Tesla, which simply introduced cheaper Mannequin Y and Mannequin 3 variations, and Lucid have minimize costs to maneuver stock. Whereas Ferrari patrons aren’t motivated by tax credit or financial savings, they do worth exclusivity—and the model’s identification has lengthy been tied to the sound and spirit of its inner combustion engines.
As Brinley famous, “Shopper demand has not stored up with the calls for of regulatory change, however it has not vanished and can proceed to develop. Timing entry and making certain profitability are troublesome.”
The Elettrica’s success will probably rely much less on its vary or value than on whether or not it will possibly ship the emotional rush Ferrari homeowners anticipate. If the automobile can replicate the visceral thrill of a Ferrari by way of software program, vibration and sheer efficiency, it may redefine what it means to be a supercar maker. If not, the corporate dangers alienating its rich loyalists—clients who prize Ferrari’s sound, velocity and unmistakable sign of standing as a lot as its engineering prowess.
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