Ferrari has confirmed that the sportscar manufacturer will maintain its traditional methods of propulsion until at least the end of the 2030s.
In an interview with the BBC, Ferrari chief Benedetto Vigna said that the brand would continue to make V8 and V12 engines, and declined to categorically state that all future vehicles would be electric or hybrid.
Vigna refused to advocate for a switch to electric or hybrid cars as doing so would be “arrogant” and go against the company’s history of high-performance cars using traditional propulsion methods.
While electric cars and hybrids would make up an increasing proportion of Ferrari’s range towards the end of the decade, Vigna said that internal combustion engines (ICE) will remain an essential part of the company’s heritage.
Despite producing fewer vehicles than many of its main competitors, Ferrari has outstripped parent company Stellantis by market capitalization and is now the eighth most successful automotive company in the world.
This is according to a report from Automotive News Europe which showed that despite Ferrari only selling 14,000 in 2022, their market capitalization has shot up.
This shows the strength of the brand and the affinity people still have for traditional combustion engines in high-performance cars.
Recently, other brands like Jaguar and Daimler announced that they would be embracing hybrid technology in their sportscars in the next decade, however, Ferrari has declined to follow suit.
Vigna has strongly backed Ferrari’s decision not to switch to electric or hybrid and believes that the decision to keep ICEs part of the company’s lineup is a tribute to the brand’s longstanding success.
“The world is changing and technology is changing. We at Ferrari should try to be part of this movement, but not as a dominant player,” he said.
“I don’t want to be arrogant and impose a choice on our client. It is the client who must choose if they want an ICE, a hybrid, or an electric car.”
Although Ferrari believes that the traditional methods of propulsion should remain an important part of the brand, the Italian icon is embracing technological advances in other areas.
The company has embraced cloud-based technology to allow customers to design their very own personalized Ferrari, while they’re also opening up their range to buyers from all over the world with their ‘at home’ home delivery service.
It is not yet clear whether Ferrari will eventually switch to electric and hybrid cars across the board and when that decision might be made, but it appears that the brand will, for the foreseeable future, remain committed to its traditional range of sportscars.
