Ferrari CEO welcomes European compromise on e-fuels

Canada Global (Web News) The European Union’s 2035 phaseout of new combustion engine vehicles will not apply to vehicles that run on e-fuels, according to the chief executive of Ferrari (RACE.MI), who applauded the proposal.

According to CEO Benedetto Vigna, the choice would provide the luxury Italian automaker “more freedom over the production strategy.”

Ferrari, which is known for its potent gasoline engines, already makes plug-in hybrid vehicles and has stated that its first fully electric vehicle will be available in 2025.

The new electric model, according to Vigna, will be “a unique car,” but he declined to give further details, noting that “staying secret is part of the formula.”

He added that Ferrari intended to continue to its electrification goals and predicted that the cost of e-fuels would decrease as they are developed in the upcoming years.

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