First Electric Ferrari Unveiled

Ferrari (NYSE: RACE) fell 14% in premarket trading after unveiling its first-ever electric car, the “Elettrica,” while unveiling a scaled-back 2030 strategic plan that emphasized internal combustion and hybrid models over a full EV transition.

The Elettrica is a production-ready model slated for delivery in late 2026, marking a milestone for the luxury automaker’s electrification journey first announced in 2022.
The car was unveiled at Ferrari’s Maranello headquarters in northern Italy, with executives showcasing the new design and performance benchmarks.

Revised 2030 Plan: Less EV, More Hybrid

Ferrari’s updated 2030 product mix now targets:

40% internal combustion engine (ICE) models
40% hybrid vehicles
20% fully-electric models

This marks a major reduction from its earlier plan, where the mix was reversed — with 60% electric and 40% ICE/hybrid models.

CEO Benedetto Vigna stressed that electrification would remain additive, not transformative:

“The EV is an addition, not a transition,” Vigna said. “It complements, not replaces, Ferrari’s heritage.”

Investor Reaction and Market Context

Investors viewed the revised plan as less ambitious, leading to a sharp 14% premarket drop in shares.
Analysts said Ferrari’s conservative pivot reflects both slow EV adoption among luxury buyers and production cost pressures tied to battery technology.
While hybrid output has increased since 2022, shipments have plateaued in recent quarters, suggesting a cooling momentum.

Outlook

Despite the market reaction, Ferrari’s executives reiterated that the company remains committed to:

Maintaining profit margins above 30%
Balancing exclusivity and innovation
Launching new hybrid models alongside limited EV releases through 2026–2030