Ferrari’s push toward electrification has been much more restrained than other automakers, but that’s about to change if this new report is correct. The Italian automaker is allegedly preparing to announce that it will significantly expand its production facilities in Maranello. Ferrari plans to dedicate this third assembly line to hybrid and electric vehicle production, and it’ll announce its plans on June 16, capital markets day.

According to the report, Ferrari CEO Benedetto Vigna will announce the plans and lay out the automaker’s EV strategy. Vigna will detail the company’s business plan for the next four years, which should include the launch of its first EV in 2025. Ferrari had initially planned to launch its first EV sometime after 2025, but that timeline changed in early 2021.

A few months after upping the EV’s launch, Ferrari announced that it had named Vigna as its new CEO, who had spent decades working in the technology industry. He spent 26 years at STMicroelectronics, and it’s this experience that Ferrari is hoping will help the company navigate the electrified future. Earlier this year, Vigna announced a major shakeup to the company’s organizational structure.

Ferrari’s first fully electric vehicle is still years away, but a patent filing from February provided a peek at the possibilities. The filing revealed that Ferrari had designed a chassis that could accommodate hybrid and electric powertrains for its sports cars, with the passenger compartment sitting on top of the battery pack. A patent filing in 2020 previewed an EV with our electric motors.

Electrification is a big change for the industry and a major shift for brands like Ferrari, which has made a name for itself with high-powered V8 and V12 engines. However, Ferrari knows the future is coming, and its announcement next week should lay out its plans to tackle it.

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