European supercar builders are equally concerned about the offensive of Chinese brands in Europe, and Benedetto Vigna, CEO of Ferrari, revealed that he advocates “a call to action on the European side”.
In an interview with the television channel “Bloomberg,” Vigna stated that he sees the decision of Chinese brands entering the European market not as “a trade war, but rather as good competition”.
At a time when tensions between the European Union and China are rising as the deadline approaches for the European Union to announce the results of an investigation into Beijing’s subsidies for Chinese electric vehicles, several European builders have already expressed their concerns about the risk of protectionist measures turning intoa trade war.
However, Ferrari does not fear this competition, and Vigna pointed out that “the Chinese market is not yet mature”, adding that the country “is not, for Ferrari, what it is for other luxury brands”, arguing that, at this moment, the Chinese market accounts for no more than 10% of Ferrari’s total sales.
Recall that Ferrari will launch its first 100% electric model in the fourth quarter of 2025, a supercar that Benedetto Vigna believes will have a demand similar to what the brand has seen for combustion engine models. The model set to be released next year promises to be, according to Vigna, “unique in every aspect. We are on the right track.”
It is worth remembering that Ferrari revealed last year that it expects 60% of sales by 2026 to be hybrid and fully electric supercars.
