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 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.

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.

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