Ferrari is, probably, the automotive brand that most begrudgingly made the transition to electrification and SUVs. The Italian sports car manufacturer is still behind on the electrification front compared to most other manufacturers and is yet to announce definite plans for a fully-electric model. Ferrari’s first step towards electrification began with the 2013 LaFerrari, which featured a hybrid powertrain revolving around a V-12, but there are a few reasons why the Maranello-based carmaker is yet to make a transition.

While Ferrari is one of the very few brands that still keep a more traditional approach to making cars, it may lose positions in the long run, when most of its competitors are expected to have at least one high-performance EV model in their lineup. The problem that the Italian car company faces is making sure their sports cars do not become too heavy due to the batteries, which require various changes to the car’s structure that negatively affect aerodynamics and weight transfer capabilities, and other characteristics.

Ferrari's main rival, Lamborghini has already stated that an all-electric Raging Bull will arrive sometime between 2025 and 2030, even though at this point in time, the Sant’ Agata-based company isn’t exactly ahead of its Italian rival. With that said, Ferrari is simultaneously exploring a few alternatives and solutions, including solid-state batteries, which would bring significant benefits in terms of safety and fast-charging capabilities, to name a few.

Like other manufacturers, Ferrari is also exploring hydrogen as well as synthetic fuels. While manufacturers like Toyota are steadily working on making hydrogen a viable alternative to electricity, and Porsche is hard at work producing synthetic “eFuel”, both technologies still have an uncertain future. Another problem for Ferrari is the concern for “lack of emotion” in an all-electric vehicle. Ferrari prides itself on having not just some of the most capable high-performance engines, but also the best-sounding. Needless to say, it is one area EVs can’t hold a candle to the internal-combustion engine.

While the saying that “modern cars are made by accountants and not by engineers” may be partially true, Ferrari executives still retain the emphasis on the emotional aspect, which accompanies the purchase of a Ferrari. "I see customers coming to take their cars and some of them are crying", Ferrari Chief Officer, Benedetto Vigna explained to Reuters.

Ferrari’s traditional approach, which seems to involve evading the EV trend, is seen through the brand’s refusal to give up on its iconic, natural-aspirated V-12 engine. Moreover, the Ferrari Purosangue SUV, which the company classifies as an FUV (Ferrari Utility Vehicle) is barely an SUV, and Ferrari clearly made it to appeal to a more mass audience. Where Ferrari might struggle is with finding the necessary financial resources as it lacks the support of a big company behind it. Yes, it’s owned by fiat, which is now part of Stellantis, but Ferrari was not part of the deal and as such, cannot benefit from the financial might of the newly-formed automotive concern, the way Alfa Romeo does.