Ferrari is one of the biggest names in the world of iconic brands, let alone the car world, so when the company’s CEO speaks it’s always worth paying attention. That’s exactly what Ferrari CEO Benedetto Vigna hopes will happen after he warned the carmakers of Europe to beware of an influx of Chinese companies.
Speaking to Bloomberg TV he said that he wanted to put out a call to action to Europe as the EU’s deadline to announce the results of Beijing’s EV subsidies looms.
Vigna went on to say that while others are defining the current situation as a way, he prefers to see it as “a nice competition.”
China has already threatened to add a 25% tariff on vehicle imports to the country with companies like Audio and Range Rover representing most of the country’s imports.
Ferrari is less of a player in China, however, saying that it intends to keep its China sales share below the 10% mark due to the current tariff situation. “China is not for Ferrari what it is for other luxury brands,” Vigna added. “The market in China is still not mature”.
China continues to grow its presence in the world of electric vehicles, and Ferrari is set to join the mix in the final quarter of 2025. Its first EV is “going as planned,” the CEO said, adding that some parts of the process are even ahead of schedule at this point.
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