Ferrari is preparing the landmark launch of its first fully electric car in October, the luxury sports car maker said on Tuesday, while targeting an increase of at least 5% in revenues and core earnings this year.

Whether you like it or not, electrification is proliferating throughout the automotive industry, and no brands are sacrosanct, even Ferrari. During its 2024 earnings call on February 4, the legendary Italian automaker confirmed that it will introduce six new vehicles this year, including its first EV, which is slated to be revealed in October.

Ferrari CEO Benedetto Vigna confirmed the brand's first-ever electric vehicles will be unveiled on October 9 during Ferrari's Capital Markets Day event