Ferrari (RACE.MI), renowned for its roaring V8 and V12 engines, is unveiling its first fully electric model, the Luce.
Here is a summary of how the Italian sports car maker got there after first using hybrid technology in its Formula One racing cars more than a decade ago.
Hybrid powertrains introduced in Formula One. Systems to recover kinetic energy when braking had been used since 2009.
Ferrari launches 1,000 horsepower, 4WD SF90 Stradale, its first mass-produced hybrid. It had launched a limited series LaFerrari hybrid in 2013.
Further hybrid models are launched in the following years, including the 296 family, the 849 Testarossa and the limited edition F80 supercar costing €3.6 million ($4.2 million).
Benedetto Vigna, a physicist who spent 25 years at chipmaker STMicroelectronics , takes over as CEO to drive Ferrari's leap into electrification.
Vigna presents his first multi-year business plan for Ferrari, including a pledge that by 2030 electric models would make up 40% of its line-up, after the European Union launched an effective 2035 ban on the sale of new petrol-engine cars. He targets 2025 for Ferrari's first fully electric model.
Reuters reports details of Ferrari's first electric car, with a price tag pegged at more than €500,000.
Ferrari inaugurates a new 'e-building' within its Maranello complex to make electric cars and parts for EVs, as well as hybrids and some traditional combustion-engine models.
Ferrari says its first EV will be launched through a three-stage unveiling process culminating with a world premiere in the spring of 2026. It adds deliveries to clients will start in October 2026.
Ferrari delays plans for second EV due out in 2026 to at least 2028, due to lack of demand for high-performance EVs, Reuters reports.
Ferrari unveils technology to power its first electric car.
The four-door, four-plus-seat car will have a specially designed sound system to amplify vibrations from its powertrain to create an electric Ferrari roar.
In a new business plan, Ferrari's revised model mix targets 20% EVs, 40% hybrids and 40% internal combustion engine (ICE) models for 2030 line-up. That compares with a 2022 target of 40% EVs, 40% hybrids and 20% ICE models.
Ferrari releases teaser images of first EV model, revealing its name as Luce - meaning light in Italian. LoveFrom, co-founded by former Apple (AAPL.O) designer Jony Ive, is involved.
Vigna says that Ferrari is opening pre-orders for the Luce in March, after "very positive" client feedback.
($1 = 0.8519 euros)
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