Ferrari CEO Moves Fast Like Musk While Forging Own Path on EVs CEO Benedetto Vigna discusses electrification and the future of luxury in a rare interview. One turns 20 this year, the other shipped its first car shortly after World War II. The former wants to bring sustainable transportation to the masses, while the latter sells speed and extravagance to the world’s wealthiest. One’s cars quietly whir, and the other’s roar. Tesla Inc. and Ferrari NV have little in common, and won’t for another few years. But in one of the few interviews he’s given since becoming chief executive officer of the Italian supercar manufacturer 17 months ago, Ferrari Chief Executive Officer Benedetto Vigna complimented the electric vehicle maker led by Elon Musk while drawing clear distinctions between their respective paths forward. Image Unavailable, Please Login Benedetto Vigna with a Ferrari Daytona SP3. Photographer: Francesca Volpi/Bloomberg Speaking at Ferrari’s Maranello headquarters, Vigna, 53, credited Tesla with accelerating change within an industry steeped in engine cylinders. The executive who pioneered sensors used in billions of iPhones discussed how Ferrari will navigate the shift to batteries from combustion engines, the runaway success of the brand’s newest model line and the future of luxury. Here are excerpts from the conversation that have been edited and condensed for length and clarity: What have you learned from Tesla? The big contribution that Tesla has made to the automotive industry? It was a wake-up call. Things used to happen too slowly. Tesla shook up the industry and accelerated processes and decisions. They were faster and more agile. How unique is Ferrari’s path toward electrification? Electrification is a new way to provide our customers a unique driving experience, and I’ve no doubt that our electric powertrains will give clients the same thrills of combustion engines. The point is how to extract the best emotion from the use of this technology, giving something unique to the clients. Driving thrills is a combination of factors: longitudinal acceleration, lateral acceleration, sound, gear-changing and braking. This doesn’t change if the powertrain is electric. Is Ferrari on track with its electrification plans? Yes, we’re fully on track to unveil our first fully electric Ferrari in 2025. That means it will go into the market the following year. What will be the main differences between an electric Ferrari and other cars? Well, there are functional cars, that have the goal of moving people from point A to point B, emitting zero carbon dioxide. You don’t care about its brand; what really matters is that it moves you. Separately, there are emotional cars that gives you a unique driving experience, like Ferraris. How do you consider Tesla? For me, it’s a functional car. It’s meant to go from one point to another. There’s a perception Ferrari has been slower with respect to electrification than some competitors. That’s not true. I just think a company like us can’t impose any choice on clients, and that’s why we’ll keep offering a mix of technology for as long as it’s feasible. That means internal combustion engines, hybrids and fully electric models. You’re going electric, but the long-awaited Purosangue unveiled just a few months ago will only be powered by combustion engines. What was behind this decision? That shows there’s still room for a mix of technology. We’ve filled the order book four times faster than our original plan. Still, I can reiterate that Purosangue’s contribution to our deliveries won’t exceed 20% during the model’s life cycle. Can you tell us more about the Purosangue order book? The only thing I can tell you is that we are in line with other models, so we have orders placed for delivery going well into 2024. What are your views on electrification? Some regulators at a certain point decided that the community should go into electric, right or wrong. And it is — this is going to happen. Electrification is just one piece of the pie, and there’s indeed too much hype about it as well as on software and the debate about the need to consolidate the supply chain. Most people are looking too much at the technology itself, so you have people talking about things such as axial flow, radial flow and power density, when the most important thing is the client’s perception. What do you mean? Electrifying cars is relatively easy from technological point of view. The real point is how to extract the best emotion for the use of this technology you want to provide to the driver. Technology is just a tool, and I think there’s too much money poured into this, and this is because there’s a lack of deep knowledge. What is the biggest threat you see for Ferrari?
Just reading these few excerpts makes me proud to be a Ferrari owner. Will be reading the full article. Thank you for posting.
End of article: What is the biggest threat you see for Ferrari? I can’t see any specific threat for Ferrari. There is a threat for the luxury industry overall, which is how will new generations react to luxury goods? That’s why I’m putting a lot of attention on sustainability, a true sustainability action plan. When I say that we want to be carbon neutral by the end of 2030, I mean that by end of 2030, I want to sharply cut emissions. What would you like your legacy to be? What I’d like to leave is a company where there is more empowerment at all levels, that’s more unified. I want decisions to be taken at all levels. There’s this trend in Latin culture companies to wait for the boss to tell the people what they have to do. Do it, full stop. How do you measure success? It’s all about how quickly you understand the environment around you and how quickly you adapt and make decisions, partially with the brain and partially with the gut. If you believe you need to wait to have the whole range of elements to make the final decision, well, it’s too late.
Grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.
Is it me or is anyone else tired of people at Ferrari using the word emotion? I don't know what it means in terms of a car? vibration, noise, speed, daydream etc... I think they rely too much on this vague term... I know it's "Italian" - but what emotion? exhilaration? Sadness, anger? happy, Joy, euphoria? lots of emotions.... what specific ones are we talking about here? Defining an electric Ferrari is going to be hard.
I think Ferrari ownership should generate the full gamut of "emotion" - Some of which you mentioned- I know mine both do. If they can manage to generate the same suite of emotions with electrification- Albeit different emotions at different times for different reasons- they will be fine. And from the time I spent in a 296 <with admittedly low expectations> I think they are on the right path
The only emotion a fully electrified non ICE Ferrari is going to produce is, " Im glad I will never have to own one of these " in a tone of disgust. The only emotion my 328 is ever going to produce is that sung in the lyrics of " Red Barchetta" by Rush, and thats the emotion only a real Ferrari owner can know / feel / understand / relish in , its really that simple.....I think EXCITEMENT is a better word than emotion, and that will be absent in a non ICE Ferrari, no matter what the suits tell you. Big G
I have no negative feeling to the concept of electric cars. I have no need for the noise of a gas powered high performance car. 50 years of race cars, exotic cars and guns have caused more deafness than I would like so I won't miss noise. The power and performance potential in an electric car is mind boggling. Thats all I care about The problem I have with electric cars is it is a technology we are nowhere near being able to successfully use. Range sucks and we are not near solving it and worse still is our world wide shortage of generation capacity which is being ignored. I'll stick with gas thank you.
I’m not impressed. As far as I’m concerned the entire industry has capitulated to those pushing a headlong rush into electrification….with virtually no thought to how that will happen beyond the easy part: building the “vehicles.”
World wide corporate virtue signalling. Ford I understand. Bill is a tree hugger. The rest of the industry is a disappointment.
Nobody wants to talk about the reason the manufacturers are all in: reduced labor content = higher unit profit margins.
Everyone capitulating for sure and the corporate speak is becoming more laughable by the day by all these companies. To their credit, Toyota is pushing back, and Honda/Acura are half-***ing their entry into electric. I honestly think the move is going too fast and it's going to fail spectacularly in the next year or two. Perfect storm of high and unreliable energy, supply-chain issues, people making less money, charging network inadequacies, and the looming service nightmares are going to discredit electric cars at large. Tesla will be fine, maybe one or two others, but most brands are going to be hurt substantially as soon as this initial buffalo jump starts to settle.
When we really come to terms with the fact we simply do not have the power and will not for some time if ever (and it will be far to late to simply make more gas cars and gasoline) , I think they are eyeing big government subsidies for their next move. Toyota CEO has already warned the politicians of myopia. The forced electric car conversion is a transportation system suicide pact.
Toyota just got rid of CEO Toyoda and replaced with Sato. Sato is 100% going full electric. Honda teamed up with GM and Sony to go full electric. See Afeela.
But the unions and their friends in DC driving this will be sure that the reduced labor content does not impact their members. GM is already a DC make work project on the GM consumers and stockholders back. Why not add Ford and Mopar?
After experienced the full gamut of electric cars, the only thing that differentiates them from say the SF90 and 296 (both which I don't consider 'boring') is the authenticity of sound. I agree wholeheartedly needs to be rectified. I also acknowledge like music, everybody has their preferences. Folks did riot when Bob Dylan brought out his electric guitar for the first time. I respect folks that simply prefer the sound of ICE, nothing wrong with that. That's what Chris Harris recently said when he bought his Mondial and compared it to all modern exotics. (start at 3:30) Maybe that's why a Mondial was sold yesterday for $140,000 on BAT. It's true, the newer cars do have a sense of isolation and lack a certain je na sais qua, see SF90. If the USA ever bans vintage ICE, I will be right there with you protesting in the streets. #ICM (Ice cars matter) Naw, the market just saw Tesla and said hm, maybe there is something to these things. Today, this could be true, in the year 2035 when this stuff is all supposed to be set and done? I don't know, I think back to 2009, and realize the iPhone just hit the market. Yup - this is true, it's cheaper to produce, and for 99% of the population that drive an Accord, that matters a lot.
Huge difference Stand alone product driven by private enterprise vs a product that requires extensive support and extensive expensive infrastructure driven by government mandate.
I’m not in a position to talk politics. I just try to stick to the cars themselves. Though we do have a forum for that here. Kind regards.
Guys- If anyone reads my posts you know how passionately I DETEST EVs, Hybrids etc. I don't own any- won't own any- and will be a very distant memory by the time ICE is no longer in use and available <perhaps not manufactured/new but still available and useable>usable. My only point is that Ferrari exudes emotion without even getting in the car- So while the "emotion" of a v12 or v8 might not be there- there will still be emotions. Believe me the emotion/feeling my 355 delivers with that amazing engine and gated manual is certainly different than the emotion my 458 generates- but the 458 is no less "emotional". I do like @ginoBBi512 take that full-on EV Ferraris will be more about excitement than raw emotion- well-stated. Cheers