Ferrari NV will make a battery-powered supercar to challenge Tesla Inc. at the high end of the electric-auto market, Chief Executive Officer Sergio Marchionne said.
The race-car maker, spun off from Fiat Chrysler Automobiles NV, has been expanding its lineup to lift sales without losing the exclusivity of a brand associated with Italian design and super-fast roadsters. Marchionne, who heads both companies, also told reporters at the Detroit auto show on Tuesday that Ferrari will introduce its first SUV, which will be "the fastest on the market" by late 2019 or 2020.
“If there is an electric supercar to be built, then Ferrari will be the first,” Marchionne said. “People are amazed at what Tesla did with a supercar: I’m not trying to minimize what Elon did but I think it’s doable by all of us.”