June 9, 2021 | Eul Basa

Ferrari Hires A New CEO Ahead Of Its First EV Supercar Initiative


Electric vehicles are undoubtedly the next stage in the evolution of the automobile. They're not exactly the flying cars we thought we'd have by now, but they definitely are a step towards that fantasy. It seems that every automaker is jumping on to the trend, including luxury brands. The latest company to announce an EV initiative is none other than Ferrari, which recently appointed a new CEO to spearhead the plan.

Benedetto Vigna, the current president of STMicroelectronics, will take over as the CEO of Ferrari this September 1. His extensive background in micro-electromechanical systems, sensors, and power solutions will surely be an asset since the company is hoping to launch a new line-up of EV supercars in the near future.

"His deep understanding of the technologies driving much of the change in our industry, and his proven innovation, business-building, and leadership skills, will further strengthen Ferrari and its unique story of passion and performance in the exciting era ahead," said John Elkann, Ferrari's interim chairman.

Back in April, Elkann announced that Ferrari is looking to debut its first all-electric vehicle by 2025. The plan comes soon after its competitor, Lamborghini, committed to giving each of its cars an electric motor by 2024.

Despite the pandemic, Ferrari was still making a steady profit. Earnings initially took a hit, but the company managed to rebound with a record fourth-quarter profit and boosted projections for this year. According to CNN, Ferrari only managed to sell 9,119 cars in 2020, each averaging at around $370,000 in price.

Electric vehicles are more important now than they ever were. Scientists warn that we must get total carbon emissions to zero to avoid the catastrophic and irreversible effects of climate change. With Ferarri now entering the EV race, the hope is that other automakers who have not yet joined the movement will do so too.

Additionally, these companies must try to convince consumers to make the shift from fossil-fuel vehicles to electric vehicles. The Biden Administration already has plans to roll out a tax incentive for those who purchase an electric vehicle, with the hope that it can dramatically push Americans to choose greener transportation. If the auto industry can offer similar incentives, it could definitely help accelerate the transition. As more and more charging centers are being built across the country, ownership of an EV will soon start to become a more realistic option for the middle-class consumer.


READ MORE

Aithumb

AI Is Being Used Way More Than You Think

Everyone's talking about AI—but there are a million ways AI is being used right now that people don't even realize. And this is only the beginning...
April 3, 2024 Jamie Hayes
Portrait Of Mature Couple Carrying Boxes On Moving Day In Front Of Dream Home

The Best Way To Sell Your Stuff When Downsizing

Getting rid of an entire home worth of stuff can seem like an insurmountable task. Here's how to take it on AND get your money's worth.
March 28, 2024 Samantha Henman
30Thumb

30 People Who Only Got Successful After 30

The best time to start was yesterday. The second best time is right now. These mega-successful people eventually reached their tipping point—it just took a little longer than usual.
March 27, 2024 Jamie Hayes
Happy multicultural office young employees with old mentor leader coach laughing working together gather in boardroom, diverse corporate business team having fun engaged in teamwork at group meeting

Changing Your Career Late In Life—It’s Never Too Late

Whether they’ve been laid off or are simply unhappy in their jobs, they might wonder if they really want to stay on the path they’ve laid out for themselves—or if it’s possible to make a change after 30, 40, or 50.
April 25, 2024 Sammy Tran
Mcdthumb

McDonald's Has Used 45 Slogans, How Many Can You Remember?

I bet you can name a McDonald's slogan off the top of your head. Maybe you can get 3-4. If you can get all 45, I'll be VERY impressed.
April 2, 2024 Jamie Hayes

The Top Financial Scams of 2023

Uncover the top financial scams of 2023. From fake checks and fake jobs, to government imposters and fake loan forgiveness, find out how much consumers lost in financial scams in 2023, and the most common methods the fraudsters preferred.
May 16, 2024 Allison Robertson



Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team