Tesla was an electric wake-up call for auto industry: Ferrari CEO

Tesla and Ferrari may not be on the same page as they follow completely different philosophies while making cars, but the Italian sportscar brand's CEO, Benedetto Vigna, believes that the EV manufacturer is responsible for the fast-paced transition happening in the auto industry towards electrification. He believes that Tesla became a wake-up call for the global auto industry.

Ferrari itself is also advancing towards electrification amid the global transition trend. The Italian car marquee has pledged to have electric vehicles make up 40 per cent of its total sales by 2030. The Ferrari CEO has admitted that the supercar brand, founded in 1939, has a lot to learn from the 20-year-old Elon Musk-led EV startup. He complimented Tesla and credited it with accelerating change within the automotive industry, which is dominated by internal combustion engines, reports Bloomberg. "Things used to happen too slowly. Tesla shook up the industry and accelerated processes and decisions. They were faster and more agile," said Ferrari CEO praising Tesla. However, he doesn't see Tesla as a rival automaker.

Ferrari is currently on track to unveil its first-ever all-electric vehicle in 2025 before introducing it to the market in 2026. Speaking about the upcoming Ferrari EV, Vigna said that it would be like any other functional model. "For me, it's a functional car. It's meant to go from one point to another," he said, adding that the auto company makes emotional cars that give the consumers a unique driving experience. He also said that its EVs will offer equal thrill as the ICE models.

Ferrari's CEO has further claimed that the auto company has not been slower than others when it comes to adopting electrification technology. "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," Vigna said. Ferrari currently has two electrified models in its portfolio, which are the SF90 and 296 plug-in hybrid, available in a coupe and convertible body styles.

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