Ferrari CEO: Electric cars will not replace combustion engines anytime soon

Ferrari CEO Benedetto Vigna has reaffirmed that electric vehicles (EVs) will not replace the company’s traditional combustion or hybrid models any time soon, describing Ferrari’s approach as one of “technology neutrality.”

Speaking during a media Q&A session following the presentation of Ferrari’s first EV, codenamed the Elettrica, Mr Vigna said the company’s goal is not to abandon internal combustion, but to master every powertrain technology capable of delivering emotional performance.

“We are mastering different technologies to create different driving thrills,” he said. “Because the objective of our company is to harness any technology to delight our clients.”

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Mr Vigna said Ferrari’s future portfolio will continue to include internal combustion, hybrid and fully electric vehicles in parallel, reflecting customer demand for diversity and the company’s belief that no single technology can define performance.

“We believe in technology neutrality. What is important is that each car must deliver the same level of emotion,” he said. “Clients will choose the car that fits their thrill.”

The CEO’s comments come as Ferrari enters the final development phase of the Elettrica, its first battery-electric model due to be revealed in 2026. While the car represents a historic step for the company, Mr Vigna said it is not a signal of a wholesale shift away from combustion engines. Instead, it marks the expansion of Ferrari’s engineering capabilities.

“This is not a revolution for Ferrari. It is the next chapter of the same story,” he said. “We have always been driven by innovation, but we never forget where we come from.”

Mr Vigna said the company’s long-term strategy is based on giving customers choice rather than enforcing technology transitions. He also suggested that combustion engines still have untapped potential when combined with new fuels and hybrid systems.

“There are still many opportunities to make internal combustion more efficient,” he said. “We are investing in all technologies that can bring more emotion and more performance.”

The company’s Chief Product Development Officer, Gianmaria Fulgenzi, echoed this view, saying Ferrari’s approach to electrification was shaped by how different technologies can coexist rather than compete. He described Ferrari’s EV as an addition to the brand’s range, not a replacement for its existing cars.

It is an electric car, but first and foremost, conceptually and in practice, it is a Ferrari,” Mr Fulgenzi said. “The Elettrica will deliver new experiences without losing what makes our cars unique.”

At its 2022 Capital Markets Day, Ferrari projected that EVs would account for around five per cent of its sales by 2026 and up to 40 per cent by 2030. However, given the change in consumer demand and better market understanding since then, those figures have been revised at the 2025 Capital Markets Day to be 40 percent internal combustion engine, 40 per cent hybrid and just 20 percent fully elecetric by 2030.

For Mr Vigna, the philosophy remains unchanged. Ferrari’s legacy, he said, is not tied to a single power source but to the emotion a car can create.

“When I see this car, I have goosebumps,” he said. “I imagine the same feeling from the team who saw the first Ferrari driving through the gates in 1947. That emotion will never change, no matter the technology.”

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