Ferrari Likely To Shed Light On Its EV Endeavor

Ferrari N.V. (NYSE: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 (OTC: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.
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