Ferrari chairman stories report orders ‘nicely into’ 2024

MILAN — Ferrari has a report order e-book for its fashions spanning into subsequent 12 months, Chairman John Elkann advised the sports car maker’s shareholders on Friday.

Elkann mentioned the Italian firm’s two newest fashions, the 296 GTS plug-in hybrid car and the Purosangue four-seater had boosted its product portfolio, “delivering a record number of orders well into 2024”.

Ferrari has promised a complete of 15 new fashions between 2023 and 2026, together with its first full-electric automobile, which Elkann reiterated on Friday is anticipated in 2025.

The corporate has mentioned that, whereas pursuing electrification, inside combustion engine (ICE) vehicles will nonetheless be a part of its vary for some years.

Chief Govt Benedetto Vigna final month welcomed the European Union’s plans to allow production of cars running on e-fuels past a proper 2035 deadline to finish ICE automobile manufacturing, saying e-fuels would prolong the lifetime of combustion engines.

Vigna returned to the theme throughout Ferrari’s shareholders assembly on Friday.

“ICE still have a lot to give, and thanks to their higher energy efficiency and e-fuels, together with partners, we will develop solutions that will contribute meaningfully to decreased CO2 emissions,” he mentioned.

Vigna mentioned Ferrari would leverage on “selected partnerships” for its industrial and innovation technique, whereas protecting in-house the event and manufacturing of core parts “such as the electric engine, the battery pack and the inverters”.

Traders in Ferrari, which is managed by Italy’s Agnelli household by way of its funding firm Exor, on Friday additionally accredited a prime administration remuneration bundle for final 12 months.

Complete remuneration for Vigna amounted to round 5 million euros ($5.5 million) for 2022, his first full 12 months on the helm of the corporate. The determine contains round a million euros in share-based long-term incentives.

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