Ferrari boss welcomes ban on fossil fuel cars

Ferrari chairman and acting CEO John Elkann says he welcomes the transition to electric cars, and supports the proposed ban on the sale of new fossil fuel cars that could come into effect in Europe by 2035.

During an earnings call earlier this week, Elkann said the impact of the potential ban on ICE vehicles – and the larger climate movement – is “creating very exciting opportunities in terms of the products that we could be … bringing to the market.”

He added that the electrification of the automotive sector “will allow us to make even more distinct and unique” products.

“It’s a question of how you substitute one technology with the other,” Elkann said. “What we want to make sure is to be able to use the technologies available, which today are hybrid going to electric and exploiting those to the fullest and in the best way possible.”

Still, Ferrari doesn’t appear to be in any great rush, saying that “changes within the energy supply … could lead to having alternatives, for example e-fuels or hydrogen. But that is really a 2030, 2040, and most likely midpoint 2035” issue “where we’ll see this happening.”

Ferrari met its 2020 goal of reducing its CO2 emissions by 35% compared to 2007 and has committed to becoming carbon neutral – though the company has yet to set a specific date for that ambition.

In 2020, the company’s natural gas-powered trigeneration plant – which produces power, heat, and cooling from a single source – covered 81% of the Ferrari’s Maranello manufacturing plant’s energy requirements, with renewable sources providing the remaining 19%.