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.

The first electric Ferrari is set to debut on Oct. 9. Ferrari CEO Benedetto Vigna confirmed the date of the automaker's first EV date during its Q4 and 2024 earnings results on Tuesday. Vigna called the upcoming EV the elettrica, which is Italian for electric. Elettrica is not expected to be the EV's name.

Ferrari Chairman John Elkann stated as early as 2021 that the automaker would launch its first electric vehicle in 2025. Ferrari CEO Benedetto Vigna has now confirmed the vehicle will debut on Oct. 9 during the company’s scheduled capital markets day presentation. He also revealed the EV will be one of six new Ferraris arriving in 2025.

Luxury sports carmaker Ferrari will present its first fully-electric vehicle (EV) at its capital markets day scheduled on Oct. 9, Chief Executive Benedetto Vigna said on Tuesday.

Ferrari will launch its first-ever electric car in October, CEO Benedetto Vigna has confirmed. The announcement was made at Ferrari’s Q4 and full-year financial results conference, where Vigna refused to give any details of the combustion-free model aside from stating that it would be launched in a “unique and innovative” way.

Brand’s first electric car will be one of six vehicles launched this year, including 12Cilindri Spider, CEO says