Ferrari is accelerating its commitment to sustainability while delivering a record-breaking financial year in 2024. The luxury automaker reported €6.68 billion in revenue, an 11.8% increase, driven by innovation, customisation demand, and strategic partnerships. As Ferrari strengthens its eco-conscious transformation with initiatives to cut emissions, it is moving closer to an electrified future, with the much-anticipated launch of its first all-electric vehicle later this year—a milestone in its broader sustainability roadmap.
An electric Ferrari car driving along a forest road with solar panels in the background. AI generated picture.
CEO Benedetto Vigna highlighted Ferrari’s strategic focus on revenue quality over sheer volume, stating: ‘Quality of revenues over volumes: I believe this best explains our outstanding financial results in 2024, thanks to a strong product mix and a growing demand for personalisations.’
Beyond direct emissions cuts, Ferrari is investing in innovative solutions to enhance its carbon neutrality strategy. The company is exploring synthetic fuels as a potential alternative for future combustion models, aligning with industry trends in sustainable fuel development.
It is also working to decarbonise its supply chain, collaborating with suppliers to implement stricter sustainability standards and promote low-carbon materials. Ferrari’s research into advanced battery technology through its E-Cells Lab further solidifies its commitment to long-term emission reductions, ensuring that its transition to electrification is not just about product evolution but also about sustainable production. By combining clean energy, material efficiency, and cutting-edge innovation, Ferrari is shaping a future where performance and sustainability go hand in hand.
Ferrari is accelerating its environmental commitments, aiming to become carbon neutral by 2030. The company has already reduced its Scope 1 and 2 emissions to 77,691 tCO₂eq in 2023, down from 84,012 tCO₂eq the previous year, partly due to the electrification of its Maranello plant and renewable energy investments.
Beyond internal operations, Ferrari is addressing Scope 3 emissions by shifting toward hybrid and electric vehicles, with a target of at least 50% of its lineup being electrified by 2030. The company is also integrating recycled aluminium into production, aiming to cut raw material emissions by 30%.
Additional sustainability efforts include:
- A 1 MW solid oxide fuel cell plant, reducing Ferrari’s gas consumption by 20%
- Expanding solar power capacity, targeting a 10 MW peak output by 2030
- Partnering with ClimateSeed on Verra-certified carbon credit projects
- Launching Bosco Ferrari, a reforestation project in Italy to enhance biodiversity
With these strategic moves, Ferrari is positioning itself as a leader in both automotive excellence and sustainable innovation. As the company heads into 2025, its strong financial footing and ambitious environmental initiatives indicate a future where speed and sustainability can coexist.
Looking ahead, Ferrari is gearing up for the launch of its first fully electric vehicle, scheduled for 9 October at its Maranello headquarters. This marks a pivotal moment in Ferrari’s history as it ventures beyond its signature high-performance combustion engines. The announcement aligns with the company’s long-term vision to reduce emissions and redefine luxury in an era of sustainable mobility.
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