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2024-04-08 21:47
Ferrari (NYSE:RACE) is teaming up with scientists at the University of Bologna to research lithium battery cells as the company moves forward with production of an all electric supercar.
While Ferrari (RACE) has no immediate plans to begin production of its own lithium battery cells and will continue to buy cells from South Korea's SK ON for its hybrid-electric vehicles, the new facility, known as E-Cells Lab, will research fast charging, thermal charging and performance and will likely accelerate Ferrari’s (RACE) transition to EVs, according to Bloomberg. Any applications from the research will be shared with NXP Semiconductors (NXPI), Ferrari’s technology partner.
With increased competition from Lamborghini’s Lanzador , BYD’s (BYDDF, BYDDY) new YANGWANG supercar, and a Buggati EV coming in 2030, Ferrari (RACE) hopes to launch its first fully-electric supercar in either Q4 or early 2025. The company is building a factory exclusively for its EV/hybrid lineup in its hometown of Maranello, Italy with a goal of 60% EVs and hybrids in its lineup by 2026. But to preserve the engine sound that Ferrari’s (RACE) are famous for, the company is also developing “sound signature” technology that will give fully electric vehicles the “pulsating sounds of its engines” to rival the sound of its V12 combustion engines.