The company is safeguarding crucial information in Maranello, but CEO Benedetto Vigna made an appearance on CNBC's Squawk Box Europe to affirm that Ferrari will maintain its emphasis on style and performance in its transition to battery-electric vehicles, ensuring the retention of the brand's distinctive essence.

Vigna highlighted that contrary to common belief, electric cars are not entirely silent. He reiterated Ferrari's commitment to crafting unique "sound signatures" for its electric models, citing the company's patent of an EV exhaust note in 2023. Additionally, Vigna acknowledged the vast possibilities that technology offers, enabling Ferrari to innovate extensively.

Understanding the preferences of Ferrari's clientele, Vigna emphasized that functionality takes a back seat to delivering the unparalleled emotion associated with the brand's luxury cars.

Since assuming leadership at Ferrari in 2021, the CEO expressed confidence in the company's ability to deliver a distinctive driving experience by leveraging technology in an innovative manner.

The specifics of this approach will become clearer in approximately 18 months. However, even as Ferrari transitions towards electrification, it remains committed to investing in combustion engines. As part of its foray into the battery-powered era, Ferrari will inaugurate a new production facility in June, situated in Maranello, tasked with manufacturing battery packs, electric motors, and power inverters.

Despite the shift towards electric propulsion, the CEO doesn't foresee the complete disappearance of combustion engines from the luxury car market. Instead, he envisions a coexistence of combustion engines, hybrids, and battery-electric vehicles (BEVs). Ferrari aims to electrify 60 percent of its lineup by 2026. Furthermore, alternative solutions such as e-fuel could prolong the lifespan of combustion engines while simultaneously reducing harmful emissions—a goal aligned with the objectives of governments worldwide.