Long known for powerful (and “thirsty”) combustion engines - above all its celebrated V12s - Ferrari now appears determined to lean into the car industry’s shift towards electrification. That message came through clearly in remarks from its Chairman and current Chief Executive, John Elkann.
Ferrari and the EU’s 2035 combustion-engine deadline
After reporting profits of 386 million euros in the second quarter of 2021, Elkann was asked where Ferrari stands on the European Commission’s proposal to end the sale of new combustion-engined cars in the European Union from 2035.
While the question itself was predictable, Elkann’s response was not. He quickly made it clear that, for Ferrari, the new rules are… welcome! In Elkann’s words: “The opportunities created by electrification, digitalisation and other technologies will allow us to make products that are even more distinctive and exclusive”.
The first fully electric Ferrari due in 2025
With the first 100% electric Ferrari scheduled for 2025, it is not the first time electrification has been presented positively within the cavallino rampante brand. A few months earlier, speaking at a meeting with shareholders, Elkann pointed to electrification - in that case via plug-in hybrids - as a “great opportunity to take Ferrari’s exclusivity and passion to new generations”.
All for the future
This receptive stance towards a possible (and likely) ban on selling new internal-combustion cars across the European Union from 2035 also helps to explain, at least in part, Ferrari’s choice of Benedetto Vigna as its next Chief Executive.
Benedetto Vigna, Ferrari and a technology-led direction
Vigna, who takes up the role on 1 September, is not a career automotive executive. Instead, he is a long-standing figure in electronics and technology.
Vigna previously led STMicroelectronics’ largest division and, according to Elkann, “his deep knowledge of the technologies driving many of the changes in the automotive industry and his proven innovation, ability to build businesses and leadership skills will further strengthen Ferrari (…) in the exciting era ahead”.
The company where Vigna served as President developed, for instance, a miniaturised accelerometer for the Nintendo Wii (2006). It also developed a miniaturised three-axis gyroscope that debuted in Apple’s iPhone 4 in 2010. Perhaps most notably, Tesla is among STMicroelectronics’ customers.
Although his expertise is more closely tied to semiconductors and chips - with patents in his name already numbering in the hundreds - that know-how may prove crucial in helping Ferrari steer through the turbulent transformation now reshaping the automotive sector.
Partnerships beyond the car industry
One of Vigna’s key responsibilities could be to build partnerships between Ferrari and technology firms, with the aim of supporting the Italian marque’s move into an “electric” and also digital era. The goal is for Ferrari - widely regarded as a luxury brand - to become a leader in automotive technology as well.
On the subject of such partnerships, Elkann said: “We believe that within the automotive industry and, more importantly, outside our industry, we will benefit greatly from partnerships and joint programmes”.
Source: Reuters.
Comments
No comments yet. Be the first to comment!
Leave a Comment