Ferrari is getting into gear with the help of electric vehicles following a year of uncertainty.
On Thursday, the Italian luxury car manufacturer confirmed that its first all-electric vehicle will debut in 2025.
The iconic automaker previously produced two hybrid vehicles, the LaFerrari, which debuted in 2013, and the SF90 Stradale, which hit the streets in 2019. Now, Ferrari will bring EV to the racetrack.
“In over 70 years of racing, on tracks all over the world, we led our closed-wheel cars to victory by exploring cutting-edge technological solutions,” Ferrari president John Elkann said. “Ferrari once again asserts its sporting commitment and determination to be a protagonist in the major global motorsport events.”
Ferrari generated $4.1 billion in revenue in 2020 compared to $4.5 billion in 2019, but sales could make a comeback this year. In March, new car registrations in Europe increased 63%, totaling 1.39 million vehicles registered, the highest since June 2019. Car sales in Ferrari’s homebase of Italy increased 29% for Q1 2021.
The company is also the latest to integrate the LMDh (Le Mans Daytona hybrid) classification of sportscar racing. LMDh will be a new hypercar class with regulations that demand a clean-energy output.
Ferrari will join Acura, Toyota, Peugeot, Porsche, and Audi on the track with LMDh classified vehicles in 2023.