Ferrari Powers Up: Engines to Drive Cadillac's F1 Ambitions

Ferrari CEO Benedetto Vigna announced a deal to supply engines and gearboxes to a new Cadillac Formula One team starting in 2026. Vigna expressed pride and responsibility in the partnership, emphasizing Ferrari’s racing heritage. The company plans to launch its first fully-electric car next year and accepts cryptocurrency payments for its luxury vehicles.

In a groundbreaking announcement, Ferrari CEO Benedetto Vigna revealed that the luxury automaker will supply engines and gearboxes to Cadillac's new Formula One team under a multi-year agreement set to commence in 2026.

Speaking at the Reuters NEXT conference in New York, Vigna expressed pride in Ferrari's selection, noting the company's deep-seated racing heritage. He highlighted the importance of maintaining high performance standards, as the success of Cadillac's team will partially rely on Ferrari's engineering excellence.

Vigna also touched upon Ferrari's future vision, announcing plans for the company's inaugural fully-electric vehicle to debut in the fourth quarter of next year. Additionally, he clarified Ferrari's position on cryptocurrency transactions: while the brand accepts them from clients, it does not engage in speculative investments.

(With inputs from agencies.)