Ferrari CEO welcomes European compromise on e-fuels


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MILAN, March 27 (Reuters) - The chief executive of Ferrari RACE.MI on Monday welcomed plans to exempt cars that run on e-fuels from the European Union's planned 2035 phaseout of new combustion engine vehicles.

The decision would give the luxury Italian carmaker "greater freedom on the production scheme", CEO Benedetto Vigna told a Reuters newsmaker event.

Ferrari, which is renowned for its powerful petrol engines, is already producing plug-in hybrid cars and has promised its first full-electric vehicle for 2025.

Vigna said the new electric model would be "a unique car" but would not be drawn on detail, adding that "keeping secret is part of the recipe".

He said that he expected the price of e-fuels to come down as they are developed in coming years and added that Ferrari planned to stick to its electrification plans.

(Reporting by Lisa Jucca and Giulio Piovaccari; writing by Keith Weir; editing by Alvise Armellini and Jason Neely)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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