Ferrari Halves EV Targets, Amid Disappointing Profit Forecast After Elettrica Revealed

Ferrari has reduced its 2030 electric vehicle (EV) goal from 40% to 20%, signaling a slower transition toward electrification. The move was announced during the company’s Capital Markets Day in Maranello, where executives also presented details of Ferrari’s first all-electric car, the Elettrica, set to launch in 2025.

Elettrica Launch and Features

Ferrari confirmed the Elettrica will be a four-door grand tourer built at its new e-building facility in Maranello.
The vehicle will feature: 

• A top speed exceeding 310 km/h (193 mph)

• A range of approximately 530 km (329 miles)

• A system that amplifies natural drivetrain vibrations to maintain Ferrari’s driving feel

The company also stated that its second EV will not debut before 2028, citing weak demand for high-end electric cars.

Profit Outlook Disappoints Investors

Ferrari issued updated long-term financial guidance that fell short of market expectations.
the automaker now projects: 

• Adjusted EBITDA: approximately €3.6 billion by 2030

• 2025 revenue: raised slightly to €7.1 billion

Following the announcement, Ferrari’s stock dropped between 12% and 15%, marking its worst single-day decline on record.

Reasons for the Revised Strategy

Ferrari stated that the reduction in its EV targets was driven by several factors, including:

• Uncertain global demand for fully electric supercars

• High costs and technical challenges in maintaining Ferrari’s performance standards

• Regulatory uncertainty, particularly around synthetic and carbon-neutral fuels

As a result, Ferrari plans to maintain a balanced production mix between hybrid and combustion-engine models through the end of the decade.

Industry Impact

The revision aligns Ferrari with other luxury automakers, including Lamborghini, McLaren, and Aston Martin, that are adopting hybrid-first strategies before a full EV transition.
Analysts note that the move reflects a broader market trend toward slower electrification in premium performance segments.