First electric Ferrari is on its way later this year.

Italian luxury car maker Ferrari has paid out a competitive bonus of €14,400 to each of its 5,000 employees after the company beat expectations on profit in 2024.

The bonus, an increase of €900 compared to the €13,500 received by Ferrari staff last year, was announced by CEO Benedetto Vigna on Tuesday.

Ferrari's net profit surged to €1.53 billion in 2024, up 21 per cent against 2023 which was already a record year for the Maranello-based company founded by Enzo Ferrari in 1939.

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Ferrari is to revise its 2025 targets upwards with revenues above €7 billion, up at least 5 per cent on 2024, following a bumper year that yielded "extraordinary financial results", Vigna said.

Vigna also revealed that six new models would be launched this year, including the first electric Ferrari, set to be unveiled on 9 October.

"We have never talked about an electric transition, but about addition" - Vigna said - "We are not leaving something to replace it with another, but we are adding the fully electric traction car to the thermal and hybrid ones. We are proceeding as planned".

Image: Ferrari production plant at Maranello. Photo credit: Boryana Manzurova / Shutterstock.com.