Ferrari commits to Italian manufacturing as it prepares for electric future

On Tuesday, Ferrari chief Benedetto Vigna said the Italian sports car maker will continue to build all luxury sports cars — including its first fully electric vehicle — in its hometown of Maranello, northern Italy. Potential new tariffs loom in international markets, including the U.S., and Vigna disparaged the possibility of producing vehicles elsewhere outside Italy at the Reuters NEXT conference in New York.

Vigna, firmly, claimed we make cars in Maranello. "We are going to sell cars in the US but we are going to build the cars in Maranello."

The announcement follows talks about trade policies with President-elect Donald Trump, who has spoken of imposing tariffs on European-made goods. However, Vigna was confident about Ferrari’s ability to bounce back, adding: 'We have to be careful, but we can rely on Ferrari and they have shown they can adapt.'

Add WION as a Preferred Source

"We will change, and change stems from innovation, and innovation is fostered by tariffs," Vigna said.

Ferrari wants to put the first fully electric car into its stable in late 2025, for now only in earnest, as a means to link cutting-edge technology to a storied heritage. Other reports at the time of the reveal suggested the price of the vehicle could exceed 500,000 euros (USD 526,000), however Vigna played it down saying the final bill will instead be determined by the feelings the car generates in its owners.

The automaker has also jumped on the cryptocurrency bandwagon by accepting cryptocurrency payments and yet it's been a smooth ride especially for the company's affluent clientele. But Vigna said Ferrari does not invest in cryptocurrencies. "We love cash," he said. "We don’t guess, we want to make the buying process effortless." Last year, cryptocurrency payments were introduced in the U.S., and now they’re available at some European dealerships as well.

Ferrari completed a multi-year deal with Cadillac to supply engines and gearboxes for the American’s new Formula One team from 2026. "We are really proud of this," Vigna said. "With racing in our DNA this is something that's been in our DNA from the beginning, from the days when Formula One was really racing, now evolving into entertainment."

Vigna, who became CEO in 2021, continues to steer Ferrari toward innovation while staying grounded in the brand’s Italian craftsmanship and racing tradition.