Ferrari NV (NYSE: RACE) (BIT: RACE) has officially announced a release date for its first-ever fully electric car.
The luxury sportscar manufacturer’s CEO Benedetto Vigna said the car will be showcased on 9 October at the company’s headquarters in Maranello, Italy.
The announcement comes as the company recorded impressive earnings and revenue in the last quarter, delivering 13,752 vehicles globally.
Ferrari reported fourth-quarter earnings per share of US$2.14 beating analysts' estimates of $1.82. by $0.32.
The car company’s revenue for the quarter came in at €6.7 billion (US$6.9 billion) roughly in line with analyst forecasts and up 11.8% from the previous year.
EBITDA is also expected to rise from €2.56 billion (US$2.64 billion) in 2024 to at least €2.68 billion ($2.77 billion) in 2025.
Vigna is yet to announce more details about the new EV but said it will be launched "in a unique and innovative way.”
The EV is expected to set buyers back €500,000 (US$520,000).
Ferrari has offered hybrid vehicles to customers since 2019, and in 2024 they made up 51% of its total car sales.
“We’re not into an electric transition, we’re rather doing electric addition,” Vigna said when presenting the results.
The new EV is one of six new models to come from Ferrari this year including pure gasoline, gasoline hybrids, and plug-in hybrid models.
Milan-listed shares in the company were up 0.8% and selling at €447.20 at the time of writing this.
While on the NYSE, shares were down 0.6% from the previous close, trading at US$461.56.
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