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In an unexpected twist, Ferrari, long celebrated for its roaring V12 engines and meticulous craftsmanship, has unveiled ambitious plans to enter the electric vehicle (EV) market. The Prancing Horse brand, renowned for maintaining its image of performance and authenticity, is set to debut its first all-electric model in October 2025, marking a significant shift towards electrification. This move comes as Ferrari gears up for a year packed with six new car launches, including the eagerly anticipated “cavallo elettrico” (electric horse), which promises to redefine the luxury sports car landscape.

Ferrari’s CEO Benedetto Vigna has been at the forefront of this transformation since taking over in 2021. During a presentation at Capital Markets Day last year, he outlined Ferrari’s strategic plan for the next decade, emphasizing investment into electric vehicles and hybrid technologies. The company plans to allocate around €4.4 billion ($4.6 billion) towards developing these models by 2026, marking a substantial shift from its traditional internal combustion engine (ICE) focus (InsideEVs).

Despite Ferrari’s storied history and staunch support for the internal combustion engine, Vigna is keen to ensure that this transition won’t compromise the brand’s legacy. “Failure to design attractive electric models,” he warned in 2022, could adversely affect Ferrari’s ability to meet customer expectations. This caution underscores the immense challenge ahead as Ferrari aims to maintain its iconic status while venturing into uncharted territory (Granturismo Events).

Ferrari’s new model is set to be produced in the brand’s Maranello factory, where a dedicated 42,500 m² Ferrari E-Building will house assembly lines for electric motors and battery modules. This innovative approach seeks to guarantee that each electric Ferrari retains the unique driving experience synonymous with the brand—engine power density, lightness, sound, and driving emotions—that fans have come to cherish over decades (ItalPassion).

Vigna has also hinted that Ferrari’s first full EV will offer a driving experience as exceptional as its ICE counterparts, promising to deliver on the brand’s promise of unparalleled performance. The vehicle’s design and engineering are expected to leverage Ferrari’s rich racing heritage, ensuring that even in electric form, it remains true to its DNA (Forbes).

The market is ripe for Ferrari’s electrification efforts, with rising consumer demand and stringent environmental regulations pushing luxury automakers towards sustainable solutions. While the shift to EVs represents a significant challenge, it also presents an opportunity for growth. By 2030, Ferrari anticipates that 40% of its lineup will be fully electric, complemented by another 40% hybrids, while ICE models will make up only 20% of sales (InsideEVs).

However, the road ahead is fraught with obstacles. Ferrari faces competition from established players like Porsche and newcomers such as Rimac Automobili, who have already made significant strides in electric luxury vehicles. The success of Ferrari’s first EV will hinge not only on its technical prowess but also on how well it resonates with both traditional enthusiasts and new audiences.

As the company prepares for this monumental shift, 2025 is shaping up to be a pivotal year. With six new models scheduled for release, including the eagerly awaited full-electric model, Ferrari aims to solidify its position in the luxury EV market. The unveiling of the first electric Ferrari on October 9 will undoubtedly generate intense anticipation and scrutiny.

In the face of this transformative journey, Ferrari’s commitment to maintaining exclusivity and performance is paramount. As it navigates the transition towards electrification, the brand must ensure that its electric offerings live up to the legacy that has made it a symbol of automotive excellence for decades. The success or failure of this endeavor could well define Ferrari’s future in the rapidly evolving world of luxury sports cars.

Will Ferrari’s first electric model retain the magic that sets it apart from other high-performance brands? Only time will tell as we eagerly await its reveal later this year—a momentous occasion that promises to redefine what an electric car can be.