rejected the notion his company would ever develop an electric vehicle, calling the concept “obscene,” citing, among other things, that the sound of the internal combustion engine was one of the attractions of driving a Ferrari sports car. By late 2019, Marchionne’s successorsaid that, citing the continuing development of its battery technology, a Ferrari electric car would arrive — but not until after 2025. Now, Ferrari has moved up that timetable somewhat.
Brad Gastwirth, chief technology strategist at Wedbush Securities in Los Angeles, toldthat Ferrari and Lamborghini have likely delayed their entry into the market because it takes time to get it right. “It is better to take their time and do it right then rush and look bad,” he added. “Clearly, they were not expecting the consumer support for these type of luxury vehicles.