Its cars may make a symphony of noise, but Ferrari has rarely, if ever, trumpeted its advancements in diversity, equity, and inclusion (DEI). It’s a shame because it has forged a path that many companies would do well to follow. For one, it’s the first luxury group in the world to receive the global Equal Salary Certification.
Wages aren’t the only factor. For a company to qualify, its employees must have equal opportunities for professional development. Ferrari likes to say that there are no special secrets, except for one: a meritocratic approach. The company behaves in the most humanistic way possible and prioritises merit above all else.
Michele Antoniazzi, chief human resources officer at Ferrari, says, “The global certification attained establishes the primacy of merit, a fundamental lever for attracting the best people and achieving the level of excellence that must be associated with the Ferrari of today and of the future.”
The Italian marque pursues innovation as doggedly as it tackles DEI issues. It wants to achieve carbon neutrality by 2030 and is well on its way there. The new assembly facility for its electric supercars in Maranello is slated to be completed in June 2024. The first fully electric Ferrari will roll out of the factory in the fourth quarter of 2025. It is expected to have one of the highest power density electric engines derived from the racing world.
It goes beyond electric cars. Innovation is one aspect of the company’s comprehensive approach to sustainability. Among these initiatives are leveraging alternative energy, exploring alternative fuels, optimising manufacturing processes to minimise emissions, and implementing sustainable practices throughout its operations.
For example, in collaboration with long-time partner Philip Morris International (PMI), the carmaker opened the Ferrari E-Lab in December 2023. The new facility is working on innovative technologies and solutions to support both companies on their decarbonisation journeys. Ferrari’s CEO Benedetto Vigna says, “In the year of the 50th anniversary of our partnership, Ferrari and PMI share a desire to evolve their work together in a spirit of open innovation.”
Their first study explores the viability of long-duration energy storage technologies, with the results expected to be out in the third quarter of this year. However, it hasn’t been a straightforward journey, according to Ferrari. Creating synergy between the brand’s performance-oriented nature and the need to reduce its environmental impact was its biggest challenge. How do you maintain or even enhance the driving emotion associated with a Ferrari while remaining sustainable? The answer, it seems, lies in investing heavily in research and development, according to the brand.
Ferrari is doing the right thing. As others race to release electric supercars and promote sustainability, the Prancing Horse is taking its time and focusing on every aspect of the entire value chain. In my opinion, the carmaker won’t even need to toot its own horn when it is finally ready. Others will create that symphony for Ferrari.
