Ferrari Issues Warning to Rivals as Chinese EVs Surge
Ferrari’s CEO, Benedetto Vigna, is sounding the alarm for EU automakers as competition from Chinese electric vehicles heats up. Vigna sees the rise of Chinese EVs as a “call to action” for Europe, urging automakers to step up their game.
The escalating tensions between China and Europe ahead of the EU deadline are causing concern, with China threatening to impose tariffs on vehicle imports. This move could have a significant impact on luxury automakers like Porsche, Audi, and Range Rover, who rely heavily on the Chinese market.
While Ferrari is less exposed to these potential tariffs, the company is still taking steps to prepare for the future of electric vehicles. Ferrari plans to launch its first fully electric supercar by the end of next year, with production set to begin in 2025.
In addition to the upcoming electric supercar, Ferrari is investing in a new EV factory in Maranello, Italy. The facility will produce electric motors, inverters, and batteries for Ferrari’s electric vehicles, with plans to be operational by June 2024.
With a goal of having 60% of sales come from hybrid and electric vehicles by 2026, Ferrari is paving the way for a more sustainable future. The first Ferrari EV is expected to be a game-changer, with several clients already expressing interest in purchasing the groundbreaking vehicle.
As Ferrari gears up for an electric future, Vigna emphasizes the importance of staying ahead of the competition and embracing the shift towards sustainable transportation. The launch of the first fully electric Ferrari supercar is just the beginning of what promises to be an exciting new chapter for the legendary automaker.
