Ferrari Sees Profit Jump as Italian Carmaker Goes Electric
- Company expects up to 2.7 billion euros in earnings in 2026
- Firm plans to expand its Italian factory into EV-making hub
Ferrari will expand its Maranello plant to make electric cars.
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Ferrari NV will embark on a major shift toward electrification by turning its historic factory in northern Italy into a hub for battery-powered cars, underscoring how even the most pure-bred makers of combustion engines are embracing an electric future.
The Italian manufacturer will invest about 4.4 billion euros ($4.6 billion) to develop fully electric and plug-in hybrid models that will make up 60% of its portfolio by 2026, Ferrari said on Thursday during an presentation to investors that included a new forecast for higher profit.