Ferrari will reportedly expand Maranello headquarters for EV production

Ferrari is gearing up to add electric vehicles to its lineup starting from 2025, and a new strategy outlining the company’s electrification plans for the coming decade is set to be announced by CEO Benedetto Vigna on Thursday.

According to some of Bloomberg‘s sources, part of the plan includes a major expansion of Ferrari’s plant and headquarters in Maranello, Italy, to support production of electrified vehicles.

Citing three people familiar with the plan, Bloomberg reported last week that Ferrari has purchased land adjacent to its plant, which will eventually be used for a third production line dedicated to EVs and hybrids, as well as to house a battery R&D center.

Ferrari Chairman John Elkann confirmed last year that an EV will be launched in 2025. This first Ferrari EV is expected to be an SUV but leaked patent drawings suggest Ferrari is also planning electric supercars. With the European Union making moves to ban the sale of vehicles with an internal-combustion engine, including hybrids, by 2035, Ferrari may have little choice.

The new strategy to be announced this week will be the first of new CEO Vigna. A veteran of the semiconductor industry, Vigna joined Ferrari last fall and has been tasked with helping the company build its proficiency in the areas of electrification and connectivity while steering away from its focus on big engines.