Ferrari to churn out gas guzzlers on its slow road to electric

Ferrari (RACE.MI) makes some of the fastest cars on the road, but the luxury Italian automaker is taking the slow lane to an electric future as it tries to overcome the technology’s disadvantages against today’s powerful fossil fuel engines.

At an investor day this month, executives promised a new era, with the first fully electric Ferrari in 2025.

But for now, combustion engines remain the noisy heart of what it does. Unlike some rivals, Ferrari has not provided a roadmap for going all electric. Volkswagen’s (VOWG_p.DE) Bentley brand and Volvo (VOLCARb.ST) are both targeting 2030.

According to a source familiar with Ferrari’s business plans, a new production line focused on electric vehicles (EVs) should help lift annual production at its plant in Maranello, Italy, by more than 35% to over 15,000 cars by 2025 versus 11,155 in 2021 – or 65 cars per day versus 46 currently – delivering higher profit margins in the process.

Ferrari declined to comment.