Core Viewpoint - Ferrari is transitioning towards electric vehicles, with a significant portion of its sales now coming from hybrid models, but faces challenges in the high-performance electric vehicle market due to weak demand and technical limitations [4][8][11]. Group 1: Electric Vehicle Strategy - Ferrari began selling hybrid models in 2019, with hybrids accounting for 51% of its sales last year [4]. - The company plans to unveil its first electric vehicle in three phases starting in October this year, with global launch expected in spring next year and first customer deliveries set for October 2026 [7]. - The second electric vehicle, initially planned for 2026, has been postponed to at least 2028 due to insufficient demand for high-performance electric vehicles [8][11]. Group 2: Market Challenges - The lack of engine noise in electric vehicles is a significant drawback for wealthy buyers, and manufacturers struggle with issues like heavy batteries and insufficient sustained power, limiting the appeal of electric vehicles in the high-performance segment [9]. - Internal sources indicate that the second electric vehicle is seen as a pivotal point in Ferrari's electric strategy, while the first model is viewed more as a symbolic milestone [12]. Group 3: Long-term Goals - Ferrari previously announced a long-term plan to launch 15 new models over five years, aiming for electric and hybrid vehicles to make up 80% of total sales by 2030 [20]. - The CEO stated that pure electric vehicles are expected to account for 5% of sales by 2025 and 40% by 2030, while hybrid sales are projected to rise from 20% in 2021 to 55% by 2025 before declining to 40% by 2030 [20]. Group 4: Industry Context - Other luxury car manufacturers are also delaying or scaling back their electric strategies due to low consumer interest, with Lamborghini and Porsche making similar adjustments to their electric vehicle timelines [23][24].