Ferrari S.p.A. joined hands with SK On Co., the world’s fifth-largest electric vehicle battery producer, to innovate cell technology as the Italian luxury sports car maker plans to launch its first fully electric vehicle next year.
The two companies on Tuesday signed a memorandum of understanding to share their expertise and increase cooperation to lead the global innovation of battery cell technology, SK On said.
The agreement came as media outlets reported that Ferrari is introducing its first EV in the final quarter of 2025 and will open a new plant in Maranello, Italy, in June to manufacture electric motors, battery packs and power inverters.
“We are happy to be with global supercar leader Ferrari on its journey of electrification,” said SK On President & CEO Lee Seok-Hee in a statement.
Ferrari said last August that about 60% of its lineup will be split between fully electric and hybrid cars by 2026. SK On President & CEO Lee Seok-Hee (left) and Ferrari CEO Benedetto Vigna shake hands after signing a battery technology cooperation deal on March 26, 2024, in Seoul (Courtesy of SK On) FERRARI’S SOLE BATTERY SUPPLIER
SK On is the only battery supplier for the carmaker’s plug-in hybrid electric vehicles (PHEVs).
The South Korean company has been providing cells for the SF90 Stradale, Ferrari’s first PHEV, and the SF90 Spider since 2019.
It supplied batteries for the 296 GTB launched in 2021 and the 296 GTS introduced in 2022.
The SF90 XX Stradale and the SF90 XX Spider, Ferrari’s limited-edition models unveiled last year, are also equipped with SK On’s batteries.
