Ferrari unveils its first fully electric vehicle – and slashes its 2030 EV sales target

Core Viewpoint - Ferrari has scaled back its electrification ambitions, now targeting a sports car model line-up for 2030 consisting of 40% internal combustion engine (ICE) cars, 40% hybrids, and 20% fully electric vehicles, a shift from its previous goal of 40% EV sales by the end of the decade [2][3]. Group 1 - The revised target reflects a client-centric approach and is influenced by the current market environment and its expected evolution [2]. - Ferrari unveiled the production-ready chassis and powertrain for its first fully electric vehicle, the elettrica, during a technology and innovation workshop, with deliveries expected to start in late 2026 [3]. - The completed elettrica is set to have a global premiere next year [3]. Group 2 - Following the announcement, Milan-listed shares of Ferrari dropped by 13%, while U.S.-listed shares fell by 11.3% in premarket trading [3]. - John Elkann, executive chairman of Ferrari, emphasized the company's commitment to progress through the integration of technology, design, and manufacturing craftsmanship [4].