Ferrari CEO guarantees that the emotional experience of driving a Ferrari won't be diminished by the switch to an electric engine.

• In the last quarter of 2025, the Italian company will introduce its first fully electric vehicle and establish a new production facility in Maranello in June.
• By 2026, Ferrari predicts that approximately 60% of its sales will come from both fully electric and hybrid vehicles.

On Tuesday, CEO Benedetto Vigna pledged that the electric vehicle of the luxury carmaker will deliver the same power as its iconic combustion engines.

In the last quarter of 2025, an Italian company will introduce its first fully electric vehicle and establish a new production site in Maranello, Italy, to produce electric motors, battery packs, and power inverters.

Ferrari predicts that about 60% of its sales will come from electric and hybrid cars by 2026, as it aims to capture market share with a new line of high-performance electric supercars.

Vigna stated on CNBC's "Squawk Box Europe" on Tuesday that the company would continue to prioritize performance, design, and driving experience in its electric vehicle (EV) range, emphasizing that electric cars are not silent.

He stated that when discussing luxury cars like theirs, it's not about their functionality like other electric vehicles (EVs) on the road, but rather the emotional experience they provide to their clients.

"Since the beginning, our company has been delivering a unique experience to our clients by harnessing technology in a unique way. We have no doubt, honestly, that we can continue to do so."

Ferrari engineers are developing "sound signatures" for its electric vehicles to mimic the distinctive roar of its combustion engine sports cars, which have been a hallmark of the brand since 1947.

In 2024, Ferrari shares have experienced a remarkable increase of almost 29% year-to-date, following a 59% surge in 2023. The company's annual net profit rose by 34% in 2023, surpassing the 1 billion euros ($1.08 billion) mark for the first time.

This year, the stock has experienced a significant increase, prompting research firm CFRA to change its recommendation from "buy" to "hold."

Garrett Nelson, a CFRA Senior Equity Analyst, stated in a research note that while the company is still considered one of the top names in the auto industry, with high gross margins (around 50% in 2023), strong pricing power, and a robust backlog due to its global luxury brand, the current stock valuation now seems to reflect these positives.