Ferrari Likely To Shed Light On Its EV Endeavor

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  • Ferrari N.V. RACE CEO Benedetto Vigna will soon elaborate on maintaining its cachet and top-tier prices amid growing competition from electric cars, Reuters reports.
  • The Italian luxury sports carmaker will likely showcase its business plan on June 16.
  • Ferrari has already introduced four hybrid models and pledged its EV debut in 2025.
  • Ferrari considered collaborations to access new technologies, including bio and synthetic fuels, while controlling capital expenditure.
  • Ferrari has already intensified its rivalry with Volkswagen AG VWAGY Lamborghini by declaring its sport-utility vehicle (SUV) debut with the Purosangue.
  • An expert emphasized Ferrari's accomplishing the key challenge of growth amid the technology transition while retaining best-in-class profitability.
  • Analysts saw multiple opportunities for Vigna to leave a mark apart from core technology. The options include data and connectivity, intellectual property, Formula One motorsports performance, and increased manufacturing complexity.
  • In recent years, Ferrari's range has expanded to nine models, plus limited edition cars, with cylinder, hybrid, and soon complete electric engines under production.
  • Price Action: RACE shares traded lower by 3.54% at $175.38 in the premarket on the last check Monday.
  • Photo by Kenneth White from Pixabay
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