Toby Bordelon

But I don't think it's an EV-specific threat.

It's the same threat you'd see no matter what new product they were rolling out.

They've got to preserve that brand.

They've got to make it a Ferrari that's worthy of the brand for them.

I think they're setting the stage, though, to get for this new EV in a way that is suggesting to customers and investors they will get this right.

Yesterday, there was a big story I saw on a popular tech blog, The Verge, about famed designer Johnny Eve and his team designing the interior of the new Ferrari EV.

People recognize that name, the former head of design at Apple.

The pictures looked really good.

I think Ferrari's come out and saying, yeah, maybe this is going to be less of our portfolio than we initially thought.

But trust us here, it's going to be super cool.

You're going to want this car.

The other side of this, though, is they don't actually need to transition to EVs.

They need to be in the market because people want it.

But I don't think their core customer really cares if EVs are a smaller part of the business or not, as long as the whole product line continues to carry on that Ferrari legacy.

That's really what it's about.

A lot of customers still want their traditional cars.

Ferrari is different than a normal car company.

You don't go buy a car off the lot.

You order it and you wait, and then you wait some more, and eventually you get it.

Ferrari's not going to make a ton of EVs that they hope to sell.