Ferrari aims for two out of five cars it sells to be fully electric by 2030, as the luxury brand tries to combine the need to reduce emissions with a reputation built on the skills of its traditional engines.
The goals were many, including a commitment to raise its dividend and repurchase shares, which the company set out at an investor day at its headquarters in the northern Italian city of Maranello.
According to its plan, approximately 40 percent of its sales will be electric by 2030, another 40 percent will be hybrid, and only 20 percent will be based on traditional combustion engines. At the moment, only 20 percent of sales are hybrid and Ferrari doesn’t have an electric-only model.
“I believe in ICE [internal combustion engine] Benedetto Vigna, CEO, told investors. can improve the performance of what we do “.
The Italian luxury brand wants to become carbon neutral by the end of the decade.
In addition to the ambitions to introduce an electric-only model, Ferrari said profits would increase by 2.5 billion to 2.7 billion euros this year, up from 1.5 billion last year. It also points to margins of 38% to 40%, more than 35% last year.
Its payment to investors will increase from 30% of the group’s adjusted net income last year to 35% starting this year. The carmaker also plans to buy back € 2 billion worth of shares in 2026.
The brand has already said it will launch its first pure electric model in 2025. The car will use technology from Ferrari’s racing team, including its electric motor and its understanding of how to reduce energy loss, Vigna said. Thursday.