© Reuters. Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022. Picture taken June 15, 2022. REUTERS/Flavio Lo Scalzo
MILAN (Reuters) – The chief executive of Ferrari (NYSE:) on Monday welcomed plans to exempt cars that run on e-fuels from the European Union’s planned 2035 phaseout of new combustion engine vehicles.
The decision would give the luxury Italian carmaker “greater freedom on the production scheme”, CEO Benedetto Vigna told a Reuters newsmaker event.
Ferrari, which is renowned for its powerful petrol engines, is already producing plug-in hybrid cars and has promised its first full-electric vehicle for 2025.
Vigna said the new electric model would be “a unique car” but would not be drawn on detail, adding that “keeping secret is part of the recipe”.
He said that he expected the price of e-fuels to come down as they are developed in coming years and added that Ferrari planned to stick to its electrification plans.
Presenting its new business plan last year, Ferrari said fully electric and hybrid models would make up 80% of models in its range by 2030 while 20% would still be powered by internal combustion engines.
