法拉利“权力游戏”续集上演

Core Viewpoint - The article discusses the renewal of the shareholder agreement between Exor and Piero Ferrari, which strengthens governance continuity for Ferrari as it prepares to launch its first electric vehicle, amidst industry challenges [3][5][17]. Group 1: Shareholder Agreement Renewal - Exor, holding approximately 20% of Ferrari's shares, and Piero Ferrari, with about 10.6%, together control over 48% of the voting rights. The renewed agreement extends until January 4, 2029, with automatic three-year renewals unless terminated [5][8]. - The new agreement allows both parties to coordinate their positions on matters requiring shareholder votes and establishes mutual preemptive rights for share transfers, ensuring governance stability [8][9]. - This renewal is seen as a strategic move to minimize potential disagreements between major shareholders during a critical transition to electric vehicles [5][17]. Group 2: Electric Vehicle Transition - Ferrari's CEO, Benedetto Vigna, emphasizes a parallel approach to fuel, hybrid, and electric vehicles, with hybrids accounting for 51% of sales last year. The company plans to maintain a diverse product lineup [17][18]. - The first electric model, Elettrica, is expected to start deliveries in October 2026, following delays. The second electric model's launch has been postponed to at least 2028 due to insufficient demand in the high-performance luxury electric market [17][18]. - The governance stability provided by the renewed agreement is crucial for Ferrari to navigate the challenges of electric vehicle development while maintaining its brand's exclusivity and pricing power [18].