According to Clean Tehnica, John Elkann, Ferrari's chairman, is expecting hybrid vehicles to make up 80% of the total sales from the manufacturer by 2030.

"Everything we do will always focus on being distinctively Ferrari. Electrification will allow us to make even more unique cars", he said.

Usually, Ferrari produces most of the parts that go in its cars, but in order to optimize development cost, the company will work with partners to supply things like the operating system.

Benedetto Vigna, CEO at Ferrari, said that the company will launch its first electric car in 2025, which is going to be one of 15 vehicles that will hopefully be launched from 2023 to 2026.

Company officials hope that EVs will make 5% of the sales in 2025 and 40% by 2030.

Vigna stated that Ferrari will make its own electric motors, inverters and even battery modules at its plant in Maranello, Italy, while outsourcing non-essential components.

"I will never build a Ferrari operating system, I would be foolish. You have to focus on the areas where you can be the best", Vigna added.

Company officials expect to invest 4.4 billion euros by 2026 to electrify its future car models. At the same time, the company will be working with four partners in Europe and Asia on battery components and the development of solid-state batteries.