New Ferrari CEO Benedetto Vigna will unveil his plans on EVs as it enters a new era of cleaner, silent and electric mobility. Vigna will reveal on June 16 how the carmaker will keep its cachet — and high-end prices — in the future of electrified cars. This poses a particular challenge to the likes of Ferrari, which have built their brand by perfecting the roaring and super-powerful engines that have powered their cars for decades.
A tech giant with 26 years of experience in the semiconductor industry, Vigna, who debuted at Ferrari last September, has been tasked with marrying innovation with tradition. “We should expect a clear focus on the technology transition, which is the key burning question, namely how the company will grow in this new environment, and not just in terms of product portfolio,” said Marco Santino, a partner in the automotive practice at management consultant Oliver. ” Wayman.
Ferrari has already introduced four hybrid models and has promised its first full-electric car in 2025. It has said that strategic partnership will be important to access new technologies while keeping capital expenditure under control.
Also read: Mahindra XUV900 Electric Coupe SUV teased, premium EV to be unveiled on August 15
The company is expected to reveal relevant areas for the new partnership, which could develop along the lines of the current tie-up with Britain’s Yasa, now part of Mercedes, to offer electric drives for Ferrari’s hybrid models. supplying technologies for
The CEO said earlier this year that Ferrari would rely on partners to develop bio and synthetic fuels that could be an additional green option with all-electric technology. By announcing its first sport-utility vehicle (SUV), the Purosang, in the coming months, Ferrari is also venturing into a lucrative market segment where competitors such as Lamborghini, part of the Volkswagen Group, are already operating.
“A key challenge in the medium term is maintaining best-in-class profitability while supporting a unique effort in developing new technologies and innovative solutions,” Santino said. Analysts say that apart from core technology, Vigna has several other areas where it can make a mark, including data and connectivity, intellectual property, Formula One motorsports performance and increased manufacturing complexity.
Also read: New Audi A8 L To Be Launched In India On July 12, Will Get Rear Relaxation Package With Foot Massage
In recent years, Ferrari’s range has expanded to nine models, with limited edition cars, six-, eight-, 12-cylinder, hybrid, and soon full-electric engines under production. Investors seem to be maintaining confidence. The company’s shares have been nearly flat over the past 12 months, with a decline of 18 percent for the European auto index and 13 percent for the luxury index.
Rival Aston Martin declined nearly 70 percent over the same period, while Tesla shares were among the few stocks to outperform Ferrari. But Vigna has something to prove.
“The upcoming capital markets day is riding high on changing valuation standards for a business that has been on autopilot in recent years and may need a transformational strategy,” said analysts at Jefferies.
(with inputs from Reuters)
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});
//$( ".content-area" ).click(function(event) {
// console.log(event.target.nodeName);
//});
/*$( ".comment-button" ).live("click", disqusToggle);
function disqusToggle() {
var id = $(this).attr("id");
$("#disqus_thread1" + id).toggle();
};*/
//$(".main-rhs2473461").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);