Ferrari had plenty to reveal during its recent Capital Markets Day, including planned product launches as well as its business strategy for the future. The company also touched upon some financial information as well as initiatives to achieve carbon neutrality by 2030, which we’ll get to later.
Starting with the cars, we will finally get to see the brand’s first-ever SUV in September this year, as that’s when the Purosangue (codenamed F175) will make its global debut. As announced back in February, production of the Purosangue (pronounced purr-oh-saahn-gway) will start in the year Ferrari celebrates its 75th birthday, with deliveries set to begin in 2023.
The Italian carmaker has now confirmed that the SUV will be a “pure V12 model” but did not provide further details. It’s safe to assume the 12-cylinder mill will likely be a variation of the Tipo F140, which is naturally aspirated, although it’s not certain if hybrid power will be added.
While a Ferrari SUV is likely to boost the brand’s sales, the company aims to keep the Purosangue exclusive by limiting shipments to customers to below 20% of total annual deliveries over the model’s life cycle – that’s one in five Ferraris sold.
Moving on, the carmaker says it will launch 15 new models between 2023 and 2026, including a new supercar that is billed as the successor to the LaFerrari that ended production in 2018. The unnamed model will feature technologies gained from Formula 1 and the upcoming Ferrari LMH, the latter set to participate in next year’s 24 Hours of Le Mans.
The upcoming Ferrari supercar and cars from the Icona series (Daytona SP3, Monza SP1, Monza SP2) will be the brand’s rarest offerings, accounting for less than 5% of total volume. Meanwhile, the Special series (Ferrari 812 Competizione and Competizione Aperta) will make up 10% of total production.
In 2025, the first all-electric Ferrari will be unveiled to further drive the brand’s electrification efforts that has already seen the debut of four plug-in hybrid models between 2019 and 2022, namely the SF90 Stradale, SF90 Spider, 296 GTB and 296 GTS. By 2026, the company says its product range will be made up of 40% pure internal combustion engine (ICE) cars, with the remaining 60% being a mix of hybrid and full electric.
Development work on ICEs will continue as it is deemed as “an essential part of the company’s heritage,” while hybrids will benefit from on-track experience. As for its EV technology, Ferrari says all electric powertrains “will be designed, handcrafted and assembled in Maranello, to ensure a unique driving experience also derived from racing solutions.”
Ferrari will continue to develop and make in-house its core components, while co-developing and tailoring best-in-class existing solutions with selected partners. An additional development of the plant in Maranello will also assure the technical capacity and capability in excess of the needs for the years to come, with a new “e-building” to be assemble EV components.
On the money side of things, the target is to achieve net revenues of up to 6.7 billion euros (RM31 billion) in 2026, with a compounded growth rate of 9% backed by a rich product portfolio. The expected free cash flow for this year is between 4.6-4.9 billion euros (RM21.3-22.7 billion).
As for carbon neutrality, the company says for Scope 1 and 2, it will implement 77 MW of biomethane for the trigenerator, install 37 MW of photovoltaic panels and 1 MW of hydrogen fuel cell-based systems at its Maranello site, with the end goal of decarbonising all its facilities by 2030.
It also aims to reduce emissions by at least 40% per car by 2030 through Scope 3, with expanded electrification set to reduce at least an average of 50% CO2e emissions per car by said year. Additionally, Ferrari is exploring solutions to reduce at least 30% on average per car by 2030 using recycled aluminium and green steel to counteract the impact of battery modules which will otherwise increase raw materials emissions.
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Such a mouthful name. I love it.
Ive owned 9 different Ferraris in my lifetime and loved every one of them (yes even a 348). Now at the ripe old age of 82 and negotiating life with prosthetic hips and knees I need a Ferrari I can actually ingress and egress without making a bloody fool of myself. It may not be the sort of car for track boy purists like Chris Harris but it will suit this young at heart Ferrari loyalist down to its four wheels.