(Bloomberg) -- Ferrari NV is inching closer to its first all-electric supercar, revealing a new factory in Italy where the brand will produce the next generation of its sought-after vehicles.
The site in Maranello, built over the past couple of years and shielded from public view, will make Ferrari's first EV from late 2025 alongside hybrid models and cars powered by combustion engines.
Featuring shiny white robots that assist workers dressed in red overalls, the €200 million ($214 million) facility represents the next chapter for the manufacturer whose production run tends to sell out for years, generating industry-leading margins.
Ferrari is unveiling the plant at a challenging moment for the high-end automotive sector, which is working to lower emissions just as EV demand is cooling. Vigna has pledged to push ahead with electrification while sticking to combustion-engine cars for years to come. It's a delicate balance for the automaker, as younger buyers skew electric but many established clients are loath to give up Ferrari's trademark roar.
“We believe there is no single solution to future automotive powertrains,” Chief Executive Officer Benedetto Vigna told reporters Friday in Maranello. “Our strategy is to continue to invest in all three.”
The new factory isn't about increasing Ferrari's output, but making production more efficient. By putting all manufacturing processes under one roof — from building electric axles and packing batteries to assembling final vehicles — Ferrari aims to protect the exclusivity of its cars while squeezing more profit from making them. Last year, Ferrari shipped 13,663 vehicles, a fraction of the around 320,000 sold by Porsche AG.
A former executive at chipmaker STMicroelectronics NV, Vigna started shaping Ferrari's electric transition soon after joining nearly three years ago. The company was considered late to the transition — Porsche has been offering its Taycan EV since 2019 — but the cautious approach may well pay off: As EV sales slow in Europe, companies including Stellantis NV and Volkswagen AG are scaling back or refocusing battery projects, while Mercedes-Benz Group AG has vowed to sell traditional cars longer than expected.
Speaking in a Bloomberg Television interview, Vigna declined to comment on how much the new fully electric supercar will cost, saying the company will only disclose price information about a month before the car is released.
Occupying an area of about six football fields just north of its historic headquarters, the new facility has ergonomic workstations, chill-out areas and a roof decked with more than 3,000 solar panels. Ferrari has trained its workers for the past two years for the new lines, teaching them chemistry and battery-assembly skills.
The main production space glistens in white, with touches of the brand's trademark red on stairs and pylons. At night, facade lights make the plant glow like a lantern.
The new factory “will guarantee us enhanced flexibility across our entire production line,” Vigna said. “Our ethos will remain the same: quality of revenues over quantity.”
(Updates with CEO interview in 8th paragraph.)
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