While Ferrari is committed to launching a battery-electric model sometime after 2025, don't expect the automaker to go down the full EV route, perhaps even in the decades ahead.
That's according to Ferrari CEO Louis Camilleri who, in a conference call Tuesday outlining Ferrari's third-quarter results, said he didn't see the automaker ever having a full EV lineup.
“I really don’t see Ferrari ever being at 100% EV, and certainly not in my lifetime will reach even 50%,” Camilleri, 65, said.
Camilleri in 2019 said battery technology still isn't at the point where it's suitable for Ferrari, which is why the automaker doesn't plan to have an EV before 2025. As a result, Ferrari is focusing on plug-in hybrid technology to meet emissions regulations. The automaker has just launched the plug-in hybrid SF90 Stradale and targets a 60% electrified lineup by 2022.
But what if Ferrari needs to reduce emissions of its fleets to zero due to regulations. In this case it may rely on alternative fuels, such as hydrogen or even carbon-neutral synthetic fuels—something Porsche and McLaren are already investigating.
EVs have proven to be fast, and their disadvantages such as weight and charge times should only be improved over time. However, part of the allure of a Ferrari is the sound of its engine, so it's understandable the automaker doesn't want to give this up.
Despite not having an EV yet, business is booming for Ferrari, even with the slowdown caused by the Covid-19 coronavirus pandemic. The automaker's third-quarter earnings rose 6.4% on the same period a year ago to 330 million euros (approximately $385 million), although its shipments and revenues were lower.