Picture used for illustrative purposes only.
Vigna confirmed the carmaker's plans to launch its first electric model in 2025.
"Everything we do will always focus on being distinctively Ferrari," company chairman John Elkann said in opening remarks. "The opportunity set of electrification and electronics will allow us to make even more unique cars."
Ferrari expects fully-electric cars will make up 5% of sales in 2025 and 40% in 2030, Vigna said. He said it would develop and build its own electric motors, inverters and battery modules for its electric models.
Faced with looming bans on fossil-fuel vehicles in Europe and China, major automakers have committed to spend more than $250 billion through 2025 on the shift to electrification, according to industry estimates.
Like other makers of sports cars, Ferrari's challenge goes beyond just the huge capital investments necessary to develop electric models that can match their high-performance fossil-fuel forebears.
The iconic Italian carmaker sells an emotional experience to wealthy customers centred around the throaty roar of a powerful engine.
Customers and investors both like what Ferrari does today, with a long order book for cars that start at around 210,000 euros ($218,000).
Shares in Ferrari have been almost flat in the past 12 months, versus an 18% drop for the European auto index .SXAP and a 13% drop for the luxury index .STXLUXP.
On the journey to electric sports cars, Ferrari needs to make sure its high-net worth customers and investors are along for the ride.Reuters
Welcome to Singapore's self-drive test centre, complete with traffic lights and mock skyscrapers, which is at the heart of the city's push to become a hub for autonomous technology.
The Ministry of Industry and Advanced Technology (MoIAT) on Monday signed a memorandum of understanding (MoU) with the Abu Dhabi Investment Office (ADIO)
The Biden administration published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere
Cease-fire mediator Qatar said efforts are ongoing to renew the truce, which saw Israel pause most military activity in Gaza and release 300 Palestinian prisoners in exchange for Palestinian group Hamas freeing over 100 hostages held in Gaza.
The emirate's delegation comprised the Sharjah Book Authority, Sharjah Literary Agency, Sharjah Department of Culture, Al Qasimi Publications, and Kalimat Group.
"You are the spirit of the union. You are its present and future. I pray to Allah Almighty to bless you and our nation with continued security, progress and prosperity," Sheikh Mohammed said.
In another homage to the UAE, Egyptian couple Manal Mohamed and Mahmoud Muhareb rang in UAE National Day with the birth of baby Zayed exactly at 12:00am, weighing 3.810 kg. After two boys and two girls, Zayed is their fifth child.