In a recent interview with BloombergTV, Benedetto Vigna, CEO of Ferrari, issued a stern warning to European automakers about the increasing competition from Chinese electric vehicles (EVs). Vigna urged his counterparts in Europe to view this as a "call to action" and step up their game in the face of this emerging market.

With tensions rising between China and Europe ahead of the upcoming deadline for the announcement of Beijing's EV subsidies results, Vigna expressed the need for European automakers to take notice. He emphasized that while some view it as a "war," he sees it more as healthy competition that should motivate European manufacturers to innovate and excel.

The potential impact of China's retaliatory tariffs on luxury automakers like Porsche, Audi, and Range Rover was a cause for concern highlighted by Vigna. China has threatened to impose tariffs of up to 25% on vehicle imports with larger engines, which could significantly affect these companies, as they represent a significant portion of China's auto imports.

Ferrari, on the other hand, expects to be less exposed to the impact of tariffs due to its decision to keep its China sales share below 10%. Vigna noted that unlike other luxury brands, China is not a crucial market for Ferrari, as the country's automotive market is still developing and not yet mature.

In an exciting development, Vigna also confirmed that Ferrari is on track to launch its first fully electric supercar by the end of next year. This highly anticipated vehicle is expected to debut in the fourth quarter of 2025. Vigna revealed that the project is progressing smoothly, with some processes even ahead of schedule. He expressed his enthusiasm for the upcoming release, stating that the first electric Ferrari will be "unique in every aspect."

To support its electric car ambitions, Ferrari is constructing a new EV factory in its hometown of Maranello, Italy. This facility will focus on manufacturing electric motors, inverters, and batteries for Ferrari's electric vehicle lineup. Vigna announced that the e-factory is scheduled to be operational by June 2024.

As part of its commitment to sustainable mobility, Ferrari aims to have 60% of its sales come from hybrid and electric vehicles by 2026. The company took a significant step towards this goal with the launch of its first plug-in hybrid electric vehicle (PHEV), the SF90 Stradale, last year.

Vigna stated that the interest in Ferrari's first fully electric vehicle is already high, with several clients eagerly awaiting the opportunity to purchase the prestigious brand's green car. With the release of their unique electric supercar on the horizon, Ferrari is poised to make a dynamic entry into the world of electric mobility.

As the competition in the EV market intensifies, it remains to be seen how European automakers will respond to the surging threat from Chinese manufacturers. Ferrari's warning serves as a reminder for industry leaders to stay vigilant and innovative in order to secure their positions in this rapidly evolving landscape.