Ferrari does not need to buy other supercar makers, CEO says

MILAN, June 5 (Reuters) – Ferrari (RACE.MI) has no plans to purchase other sports car makers, the company’s Chief Executive Benedetto Vigna said on Monday.

“I don’t think it makes sense for us to buy other supercar makers,” Vigna said during a conference organized by Bloomberg, replying to a question about possible M&A operations by the Italian company.

“Ferrari is a high luxury (company) with technology playing an important role,” he added, reiterating that its strategy relied more on partnerships and stressing the importance for luxury companies to maintain their “DNA”.

Vigna said Ferrari would finish building a new assembly facility, its so called ‘e-building’, in its Maranello hometown in June next year.

“It will be ready exactly two years after our capital market day, when the site construction was started,” he said.

The CEO said that Ferrari would not only be making fully-electric cars on the new assembly-line.

“We want to retain great flexibility,” he said.

Reporting by Giulio Piovaccari, editing by Gavin Jones