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Ferrari unveils the tech behind its first electric car, the Elettrica

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Ferrari has pulled back the curtain on the Elettrica, its first fully electric vehicle, marking a pivotal moment in the storied automaker’s 78-year history. The reveal took place at its Maranello headquarters, where the company showcased the car’s production-ready chassis, complete with battery pack and electric motor — but no exterior bodywork yet.

Set for a global debut next year, the Elettrica will feature a top speed of 310 km/h (193 mph) and a range of at least 530 km, slightly below Ferrari’s combustion models but still placing it among the fastest EVs in its class. In true Ferrari style, it will include a custom sound system that amplifies vibrations from the powertrain to create an authentic, non-simulated “electric Ferrari” sound.

“This is an historic day for us. We all have goosebumps,” said CEO Benedetto Vigna, stressing that the EV is meant to complement, not replace, Ferrari’s traditional lineup. “The EV is an addition, not a transition.”

The Elettrica, expected to cost around €500,000, will use 75% recycled aluminum and feature an integrated floor battery to lower its center of gravity for improved handling. Ferrari plans for 20% of its models to be fully electric by 2030, a more cautious approach than rivals like Porsche or Lamborghini.

Experts say the challenge will be delivering “an EV that feels like a Ferrari.” As former Aston Martin CEO Andy Palmer noted, the car must embody emotion and craftsmanship, not just speed — something that no €30,000 mass-market EV can replicate.

Ferrari’s stock plunges 16% as new 2030 goals underwhelm despite EV reveal

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Ferrari shares tumbled over 16% on Thursday, erasing nearly €13.5 billion ($15.7 billion) in market value, after investors were disappointed by the company’s 2030 financial targets unveiled alongside the debut of its first electric vehicle (EV) platform.

The luxury carmaker raised its long-term revenue goal to €9 billion by 2030, up from €7.1 billion projected for this year. However, analysts called the target “underwhelming” compared to market expectations. “People were expecting a higher top line,” CEO Benedetto Vigna said during the presentation in Maranello, adding that Ferrari preferred realistic goals over overpromising.

Ferrari also scaled back its EV ambitions, now targeting a 2030 lineup comprising 40% internal combustion engines (ICE), 40% hybrids, and 20% fully electric vehicles, compared to the 2022 plan that aimed for 40% EVs.

At the event, Ferrari unveiled the Elettrica, its first electric car, showcasing a production-ready chassis with in-house-designed battery packs and electric motors from its new “e-building” facility in Maranello. The car will feature over 1,000 horsepower and seat four but has no confirmed price or release date yet.

Analysts at Citi said the updated guidance “fell below consensus expectations,” triggering the sharpest one-day decline in Ferrari’s shares since early 2024.

The company reaffirmed plans to launch four new models annually between 2026 and 2030 and expand its luxury lifestyle business with “Tailor Made” centers in Tokyo and Los Angeles and flagship stores in London and New York.

Von der Leyen Calls for Europe-Wide Push on AI-Powered Cars to Revive Auto Industry

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European Commission President Ursula von der Leyen has urged the European Union to embrace an “AI first” strategy for the automotive sector, calling for a coordinated effort to develop self-driving cars made in Europe. Speaking at Italian Tech Week in Turin, the continent’s automotive capital, she argued that artificial intelligence could rejuvenate Europe’s car industry while enhancing road safety and sustainability.

“Self-driving cars are already a reality in the United States and China. The same should be true here in Europe,” von der Leyen said, emphasizing that “AI first” must also mean “safety first.” Her comments reflect growing concern in Brussels about the competitiveness gap between European automakers and tech-led rivals abroad, particularly in the U.S. and China, where AI-driven mobility is advancing rapidly.

Von der Leyen proposed creating a network of European cities to serve as autonomous vehicle pilot zones, noting that 60 Italian mayors have already expressed interest in joining the initiative. She pledged EU support for vehicles “made in Europe, and made for European streets,” positioning AI innovation as a cornerstone of industrial revival and regional independence.

The announcement comes amid intense pressure on Europe’s automotive sector, which employs millions of workers and faces simultaneous demands to decarbonize and digitize. Von der Leyen argued that AI-driven transport could reduce congestion, connect rural communities, and preserve jobs by enabling a new ecosystem of European-designed mobility technologies.

Also speaking at the event were Amazon founder Jeff Bezos, Ferrari and Stellantis Chairman John Elkann, and other global technology leaders—highlighting the deepening link between Silicon Valley innovation and Europe’s manufacturing transformation.

“The future of cars—and the cars of the future—must be made in Europe,” von der Leyen concluded, framing AI not as a threat but as the engine of Europe’s next industrial renaissance.