For most of us, it would be a dream come true to work for Ferrari, and things are about to get much better for those who are employed by Maranello. At the moment, the Prancing Horse employs more than 5,000 people. The “broad-based share ownership plan,” which is scheduled to debut early in 2019, will let employees buy a one-time grant of shares to become shareholders. These might be valued as much as €2,065 (about $2,250 in today’s currency).
The Italian exotic manufacturer will allow you to purchase additional shares for no more than 15% of the initial purchase price if the shares are held for a minimum of three years. The initiative will be accessible to employees who work overseas, even if the majority of them are based in Italy. Getting a share won’t incur additional charges, and actually, the exotic automaker will cover the costs involved in managing the plan.Working for Ferrari would be a dream come true for most of us, and it’s about to get even better for those on Maranello’s payroll. Currently, the Prancing Horse has over 5,000 employees. To be launched early next year, the “broad-based share ownership plan” will allow workers to become shareholders by purchasing a one-off grant of shares. These will be worth up to €2,065, which works out to about $2,250 at current exchange rates.
In case you were wondering who owns Ferrari, the Trust Piero Ferrari holds a 10.39 percent share, while Exor N.V., a Dutch holding company, holds a 24.44 percent stake. To refresh your memory, Piero Ferrari is Enzo Ferrari’s sole surviving son. The investing firms T. Rowe Price Associates (4.48 percent) and BlackRock (5.69 percent) are next. Other public shareholders make up the remaining 55% of the total. In 2015, Ferrari went public as a result of FCA’s decision to split it out into an independent entity.
In order to get ready for the exciting times ahead, Ferrari intends to hire 250 workers in the first half of 2024. It now has enough orders to last until 2026, but after the release of its first-ever EV in the fourth quarter of 2025, demand is predicted to increase. In the interim, it plans to open a new facility in Maranello in June 2024 to produce electric and hybrid cars. In terms of electrification, Q3 2023 saw a first: hybrids outsold ICE vehicles.
Whether you like it or not, the future is electric. By the end of the decade, hybrids should make up 40% of yearly deliveries, according to Ferrari. By 2030, it is anticipated that EVs will account for 40% of the total, leaving only 20 percent for vehicles powered exclusively by combustion engines. Not all hope is lost for purists as CEO Benedetto Vigna said “ICE still has a lot to do.” He was referring to how synthetic fuels could save the gasoline engine.