Beyond Formula 1, Ferrari represents what remains of Italy’s industrial automotive fabric. Perhaps the only positive note for John Elkann, chairman of Stellantis, who is navigating troubled waters following the sudden resignation of chief executive officer Carlos Tavares. A few days ago, the heir to the Agnelli dynasty was received by French President Macron as the temporary leader of the executive committee of the entity where Exor is the main shareholder. During the meeting, the Italian manager reiterated the intention to continue supporting factories on French soil.
John Elkann also confirmed funding for the development of ACC, the battery manufacturer that recently announced it had secured a loan to guarantee the development of its gigafactory in Billy-Berclau, in Pas-de-Calais, according to the Élysée. The Ferrari chairman took the opportunity to review the financial and sporting results of the Prancing Horse. In purely economic terms, the production of road cars once again recorded excellent financial results and further brand growth.
From next year, the lineup will be enriched by the first fully electric sports car. The technological directions demonstrate that the historic Italian company is adapting to innovation, as it cannot afford to remain a niche brand. Ferrari’s exclusivity must align with the desires of a segment of its clientele that believes in full-electric innovation. Some shudder at the mere thought of seeing a Ferrari roaring silently down the road, but the dominant illusion of electrification as a solution to decarbonization is pure utopia.
“Electric cars may seem like a technological marvel, especially in terms of urban emissions, but they are a double-edged sword. Forcing electric production on a global scale without first solving how to generate energy from clean and renewable sources poses a threat to the very existence of our planet. The transition to electric must be done without imposing laws, while continuing to exploit the benefits of other available technologies in a combined manner,” argued Sergio Marchionne, who then concluded:
“It is certainly more useful to focus on improving traditional engines and working towards the spread of alternative fuels.”
This was the essence of the thinking of the former Ferrari chairman before his passing. Returning to sporting matters, the recently concluded Formula 1 season was the most satisfying since the New York-born executive took over as president of the Maranello team. John Elkann expressed satisfaction with the progress made by the Ferrari Racing Department team, which was finally able to fight for a Formula 1 world title until the championship’s final round, the Abu Dhabi Grand Prix at the 5.281-kilometre Yas Marina Circuit on Yas Island, with Ferrari finishing just 14 points behind rivals McLaren following a great battle up the the very last lap.
The Ferrari president therefore can be satisfied with the achievements as well as the new technological challenges. In addition to the milestone victories in the Monaco Grand Prix on the streets of Monte Carlo and the Italian Grand Prix at the Monza circuit in front of a highly enthusiastic crowd, the president expressed great satisfaction with the 499P’s repeat win at Le Mans and the historic double victory on September 1, when the Prancing Horse triumphed at Monza’s Temple of Speed with Charles Leclerc and simultaneously secured victory in Austin during the American round of the Endurance Championship. John Elkann also touched on the future lineup, which will see the debut of Lewis Hamilton, a long-time aspiration of his, who finally gave in to the persistent courting of the Agnelli family scion.
Indeed, the choice of the seven-time Formula 1 world champion can undoubtedly be attributed to the will of Ferrari’s president, despite the Maranello team’s clear belief in Charles Leclerc, demonstrated by his multi-year contract renewal. John Elkann highlighted that the healthy rivalry with Lewis Hamilton could raise the performance bar for the Monegasque driver. He also mentioned the sailing challenge, thanks to the super flying boat project born of a partnership with Giovanni Soldini.
The harsh laws of the market have therefore compelled the Prancing Horse to adapt. While for Enzo Ferrari, his creation was a sports car company that also produced road cars, today more than ever, Ferrari is a true holding company that also manufactures racing cars. What matters most is that Ferrari’s various challenges are not placed on the same level, as the spirit of racing in Formula 1 must never be overshadowed by other projects. With due respect to the new and diverse technological challenges, the return to success in motorsport’s most important category must remain the sole priority for the entire Ferrari brand, as it has now been over 16 years since the last title.
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