- By Divanshi Sharma
- Tue, 18 Jun 2024 03:36 PM (IST)
- Source:JND
Ferrari’s CEO Benedetto Vigna has made it clear that the luxury carmaker is not ready to abandon internal combustion engines any time soon, even as it prepares to launch its first fully electric vehicle next year. According to a podcast by Bloomberg, Vigna emphasized Ferrari’s commitment to offering a diverse range of powertrains to cater to its varied customer base.
Even though Ferrari is about to launch its first electric car, it is still committed to experiment with new technologies while keeping its traditional engines. Vigna recognized the difficulty of satisfying different customer preferences. Some potential buyers are interested in Ferrari's electric cars, but many long-time enthusiasts are reluctant to part with the iconic roar of Ferrari’s internal combustion engines.
This decision comes at a challenging time for the luxury car market. Car manufacturers are under pressure to reduce emissions, but the demand for electric vehicles (EVs) has been slowing, and governments are reducing subsidies for EVs. However, competition in the electric vehicle market is increasing. Chinese carmaker BYD recently launched a high-performance EV costing 1.68 million yuan ($232,000), aiming to compete with Ferrari and Lamborghini.
Vigna emphasized that it's important to listen to customers instead of focusing on just one type of technology. This is why Ferrari offers hybrid models, which offer a middle ground between traditional and electric powertrains, and these made up about half of Ferrari's new-car sales last quarter. Ferrari wants to provide a unique driving experience with all types of engines—traditional, hybrid, or fully electric. Under Vigna's leadership, Ferrari is slowly shifting towards electric power. A new plant dedicated to manufacturing hybrid and electric cars is set to open soon.