Ferrari has launched the 12Cilindri, a luxury electric sports car inspired by 1960s touring cars, boasting a 12-cylinder engine with 819 horsepower. This new model marks Ferrari's foray into electrification while maintaining its focus on profitable combustion engine vehicles. Deliveries for the 12Cilindri will commence by late 2024, featuring a convertible version arriving in early 2025. Ferrari is strategically positioning itself for the future by unveiling a factory dedicated to hybrid and electric vehicle production. The announcement aligns with Ferrari's upcoming release of its first fully electric car in late 2025. Concurrently, China's BYD Co has unveiled a high-performance EV challenging Ferrari and Lamborghini. While demand for EVs in Europe has shown signs of slowing, Ferrari's reputation and commitment to innovation position it strongly in the luxury automotive sector.