Ferrari is ahead of schedule with first all-electric model

Ferrari is ahead of schedule in developing its first fully electric model. The automaker’s CEO, Benedetto Vigna, stated that the project is proceeding as planned, with some processes even ahead of schedule. Ferrari is making faster progress in debugging electronic components, potentially saving time in the overall development process. The company is on track to launch its first fully electric vehicle in the last quarter of 2025. Ferrari is building a new factory for making hybrid and electric supercars in Maranello, Italy, with plans for it to be ready by June 2024. The automaker recently raised its full-year guidance after strong third-quarter earnings, reflecting high demand across all geographies. Hybrid models accounted for 51% of total shipments in the quarter.