CNBC gained exclusive access to Ferrari's HQ in Maranello, Italy, to explore the company's new ventures into electrification. — Charlotte Reed, Vivi Vitalone, Ed Matthews and Itunu Olowookere contributed to this report.

Maranello

Ferrari has opened a new e-building in Maranello, Italy, dedicated to the production of its first electric vehicle (EV), which is set to be unveiled by the end of 2025 and go on sale the following year. The company aims to have 80% of its product lineup consist of electric and hybrid vehicles by 2030, as part of its broader strategy to achieve carbon neutrality and adapt to changing market demands.

Despite being exempt from some regulatory pressures due to its status as a micro producer, Ferrari is choosing to expand its EV and hybrid offerings to maintain its luxury brand appeal and high margins. The new facility is designed to allow engineers greater flexibility in developing future models, and Ferrari emphasizes that its electric vehicles will retain the brand's signature driving performance and emotional appeal, including authentic mechanical sounds.

CNBC takes a tour of Ferrari's new e-building

The Ferrari is set to unveil its first EV by the end of 2025, before sales start the following year. The supercar maker has opened a so-called e-building in its hometown to produce the car. Now, before I mention Charlotte, of course, visited the car maker's new factory in Maranello, I would sooner do loads of Alain Prost references, of course. He being the most famous French driver of all time. But you thwarted my ambitions by peeking over at me on the internet. I knew you were up to no good. You knew what I was up to. I won't be comparing you at all to Alain Prost from now on. No, certainly I didn't have the nerves of steel you need to have in this very fast car when I was driving with the CEO. But look, quite an experience there. We're up those Italian hills to show the performance of this car. One of the ones we drove was a Spyder, a hybrid. And you know it goes from zero to 100 kilometers per hour in under three seconds. Terrifying. When it wants to go fast, it goes fast. By the way, I just have to say I'd be exactly the same as you, living in fear. Yeah. But look, Benedetto Vigna, when he joined Ferrari back in 21, he presented the ambition for the luxury car maker in 22. And then he wants the company to go carbon neutral by 2030 and expand the offer of hybrid and EVs for Ferrari. So by 2030, Ferrari will be offering around 20% of internal combustion engine and 40% hybrid and 40% will be EVs in terms of the products they will be offering to clients. And they're very much doing that shift. And they inaugurated a new building, 200 million euros e-building that they inaugurated just a couple of weeks ago. And the new EV, we don't know the name and we don't know the price, rumored to be around half a million euros for the new EV that will be unveiled at the end of 2025 and will go on sale in 2026. We went to Maranello to visit all this and discuss with the CEO, of course the hometown of Ferrari, where the very first Ferrari came out in 1947. Every single Ferrari since has come out of this place and we had a chance to discuss the new prospects for the company. A brand recognized by its style and sound. Ferrari, the historic Italian carmaker, famous for its roaring engines and sleek style, is opening a new factory here in Maranello, speeding into the electrification era. And this could be a game changer for Ferrari and for the whole EV industry more widely. The e-building is not just an industrial building, it's our capability to demonstrate the execution plan of our industrial building already shown during the capital market swing in June 2022. There's really a blend of solutions, not just for the actual production needs, but also for the next future. We have decided to leave free all our R&D engineers to dream the Ferrari of the future without any manufacturing constraints. A fully electric Ferrari is expected to be released by the end of 2025. I think that we have to go electric because we have to keep our clients always engaged with their emotional side. And to do this you can do it in different ways. In the past we were doing only with thermal cars. In the recent future we started to engage the emotion of the client also with the hybrid propulsion. In the future we will offer them also the possibility to have this kind of emotional selling engagement with electric cars. So it's a way to show that emotion can come from different technologies. By 2030, the luxury carmaker plans that 80% of its product portfolio will come from electric and hybrid models. If it wanted to, it could continue selling internal combustion engine vehicles. But the fact that it is pivoting towards selling electric vehicles shows that they want to do this. There is a consumer appetite. Ferrari's bet on EVs comes at a time where other carmakers are becoming more cautious in their demand outlook. But is it just about the cars? Can Ferrari convince even the most die-hard petrolheads to go green? The fact that you have a company that has such a rich heritage in internal combustion engines, the Ferrari sound, pivoting towards selling electric cars, it does showcase why electric vehicles are so attractive. You can get the same Ferrari driving capability with an electric vehicle, the driving performance as you would an internal combustion engine. Actually, the acceleration is better. Here at Ferrari, it's impossible to separate business from emotion with history and heritage as important as innovation. Nothing encapsulates this better than that one moment when the car starts and you hear its roaring engine. Will Ferrari's EVs be able to reproduce this emotion? Let's start from this car. We are sitting in this car. This is 296. It's called 296, 2.9-litre, six-cylinder, hybrid. So it means that you have a thermal engine and electric engine. Car enthusiasts will have to be patient before they can take the new Ferrari for a spin. Waiting lists are already years long. But the CEO says that this is just all part of the Ferrari experience. So as you heard from the analysts in this package, Ferrari don't need to go electric. They won't be impacted by the ice band that will come into force in Europe. They're considered a micro producer. They produced only 13,600 cars last year. And they're a very different business model from all the other car makers. They're a bit more like an Hermes. They sell less cars than there is demand out there. It's like a pyramid kind of scheme. You need to start buying the basic models before you're allowed to have access to the other models. So it's a different model altogether. And certainly we saw from the strategy from Mr. Vigna is to sell less cars but make more margins on them. And going to EVs allows them to do that even more because they will sell for more money as well. So that's part of the strategy that it's trying to expand at the moment. It's just very fascinating to see the heritage, of course, the connection with Formula 1 that gives them even an edge technologically as well to do some of those tests of these new technologies. And so we have to wait and see again. There was big questions about the noise of the engine at starting. Can an EV reproduce that? And they say it will. And it won't be a fake sound. It will actually be a mechanical sound that will come from the car. And they say we don't do fake sounds at Ferrari. It will be the real deal.

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