1 00:00:00,360 --> 00:00:03,080 Speaker 1: For almost one hundred and fifty years, the combustion engine 2 00:00:03,200 --> 00:00:06,000 Speaker 1: has powered the cars we drive, allowing people to live, 3 00:00:06,240 --> 00:00:09,600 Speaker 1: work and play in ways that were unimaginable in the past. 4 00:00:09,760 --> 00:00:13,400 Speaker 1: But as our world transitions from fossil fuels to renewable energy, 5 00:00:13,560 --> 00:00:21,639 Speaker 1: the auto industry has been forced to adapt. On this 6 00:00:21,760 --> 00:00:24,639 Speaker 1: episode of Leaders with Laqua goes Green, I meet the 7 00:00:24,680 --> 00:00:27,840 Speaker 1: man in charge of one of the world's most iconic companies, 8 00:00:28,320 --> 00:00:33,000 Speaker 1: Ferrari Benedettovigna is overseeing a new era as a car 9 00:00:33,040 --> 00:00:37,559 Speaker 1: maker famous for its roaring engine switches to electric. In 10 00:00:37,600 --> 00:00:40,240 Speaker 1: a wide ranging interview, he talks about the road ahead 11 00:00:40,560 --> 00:00:44,600 Speaker 1: and his own personal journey from semiconductors to sports cars, 12 00:00:45,000 --> 00:00:47,640 Speaker 1: and he tells me what sets Ferrari apart from the rest. 13 00:00:51,680 --> 00:00:53,960 Speaker 1: Thank you so much for joining us on Leaders with Lacqua. 14 00:00:54,160 --> 00:00:55,360 Speaker 1: What was your first car? 15 00:00:55,800 --> 00:00:58,440 Speaker 2: My first car in my life. Yes, at that time 16 00:00:58,560 --> 00:01:02,880 Speaker 2: was a Fiat. Now so you've trained it up. 17 00:01:02,920 --> 00:01:04,840 Speaker 1: Did you think at the time, Actually, I want to 18 00:01:04,840 --> 00:01:06,720 Speaker 1: work for Ferrari. I want to work for maybe the 19 00:01:06,760 --> 00:01:08,160 Speaker 1: most iconic Italian brand. 20 00:01:08,280 --> 00:01:09,520 Speaker 3: I always dreamt about that. 21 00:01:09,720 --> 00:01:11,560 Speaker 2: If someone was telling me it's going to be there, 22 00:01:12,920 --> 00:01:16,160 Speaker 2: you know it's it's a dream that becomes a reality. 23 00:01:16,440 --> 00:01:21,160 Speaker 4: So when you joined, what was your biggest surprise, The. 24 00:01:21,160 --> 00:01:24,720 Speaker 2: Biggest surprise, I remember it was, you know, two years ago. 25 00:01:25,120 --> 00:01:28,600 Speaker 2: It looked like I've always been in this company. For me, 26 00:01:29,080 --> 00:01:30,680 Speaker 2: it looked like I was at home. I remember I 27 00:01:30,720 --> 00:01:32,440 Speaker 2: gave a phone call to my wife and I said, 28 00:01:32,480 --> 00:01:35,520 Speaker 2: you know, it seems that I've always been working here. 29 00:01:35,959 --> 00:01:37,560 Speaker 4: Why the energy, the people? 30 00:01:38,000 --> 00:01:42,679 Speaker 2: I think the was the energy, the passion that the people, 31 00:01:43,600 --> 00:01:48,160 Speaker 2: the setting. So there were mostly about the people. Yes, 32 00:01:48,360 --> 00:01:50,680 Speaker 2: the people, and also because you see it happens to 33 00:01:50,720 --> 00:01:51,600 Speaker 2: see you know Ferrari. 34 00:01:52,320 --> 00:01:55,520 Speaker 3: But I think also the spirit of the. 35 00:01:55,480 --> 00:01:58,040 Speaker 4: Place, which is which is what, which is. 36 00:01:57,920 --> 00:02:02,600 Speaker 2: About innovation is about striving, continues, striving for excellence. It's 37 00:02:02,640 --> 00:02:07,680 Speaker 2: about always looking in the future. We trying to do 38 00:02:07,720 --> 00:02:10,440 Speaker 2: always better and better. So for me, it was looking 39 00:02:10,760 --> 00:02:11,720 Speaker 2: like I was always there. 40 00:02:11,800 --> 00:02:14,440 Speaker 1: But what do you sell? Do you sell dreams? You 41 00:02:14,480 --> 00:02:16,800 Speaker 1: sell technology? Do we sell speed? 42 00:02:17,440 --> 00:02:17,600 Speaker 3: No? 43 00:02:17,600 --> 00:02:21,760 Speaker 2: No, no, what we sell it's really emotion to our 44 00:02:21,840 --> 00:02:25,920 Speaker 2: client we sell you know, when a Ferrari, when a 45 00:02:26,000 --> 00:02:30,560 Speaker 2: fer Arista, when a client by Ferrari, it buys something 46 00:02:30,760 --> 00:02:32,880 Speaker 2: that he likes to have fun, he likes to have 47 00:02:33,440 --> 00:02:36,480 Speaker 2: to leave an emotion. Okay, it does not buy a 48 00:02:36,480 --> 00:02:41,440 Speaker 2: car to shopping or it buys something that let him 49 00:02:41,680 --> 00:02:45,920 Speaker 2: her feel much better. It's a kind of you know, 50 00:02:45,960 --> 00:02:51,320 Speaker 2: you become part of you become altogether one thing with 51 00:02:51,440 --> 00:02:51,799 Speaker 2: the car. 52 00:02:52,880 --> 00:02:56,400 Speaker 1: How has the client changed actually of the years other 53 00:02:56,560 --> 00:02:57,840 Speaker 1: more females than in the past. 54 00:02:57,840 --> 00:03:01,160 Speaker 2: We see two trends. Number one, the new client are younger. 55 00:03:02,320 --> 00:03:04,640 Speaker 2: In number two, we see more and more female. And 56 00:03:04,720 --> 00:03:07,040 Speaker 2: this is a little bit everywhere. For sure, in Asia 57 00:03:07,080 --> 00:03:10,040 Speaker 2: we have more female than in the western world. But 58 00:03:10,400 --> 00:03:12,440 Speaker 2: we see more and more female getting in our space. 59 00:03:12,720 --> 00:03:15,320 Speaker 2: But we see also a five percentage of new client 60 00:03:15,600 --> 00:03:18,520 Speaker 2: that are very young. You know, forty percent forty percent 61 00:03:18,639 --> 00:03:22,120 Speaker 2: of our client new client are younger than forty years old. 62 00:03:22,720 --> 00:03:25,960 Speaker 4: And once they own Ferrari, do they own one? Two three? 63 00:03:25,960 --> 00:03:29,960 Speaker 2: Ferraris the one that we call the top of VIP. 64 00:03:30,480 --> 00:03:34,040 Speaker 2: The collectors they own more Ferrari, but you know, you 65 00:03:34,160 --> 00:03:37,640 Speaker 2: start usually we want Ferrari, and then they get buying 66 00:03:37,680 --> 00:03:41,280 Speaker 2: more and more. They get one client that told me 67 00:03:42,120 --> 00:03:44,640 Speaker 2: Ferrari I like pinuts. 68 00:03:44,840 --> 00:03:46,000 Speaker 3: More you take more you like? 69 00:03:46,480 --> 00:03:47,800 Speaker 4: How important is the color? 70 00:03:48,080 --> 00:03:48,640 Speaker 3: For sure? 71 00:03:49,040 --> 00:03:52,680 Speaker 2: When you talk about personalization of Ferrari, the colors as 72 00:03:52,960 --> 00:03:54,720 Speaker 2: a special meaning what. 73 00:03:54,880 --> 00:03:56,760 Speaker 4: Do you think makes your success as a leader. 74 00:03:57,680 --> 00:04:01,200 Speaker 2: I think there are two dimensions that always important to 75 00:04:01,320 --> 00:04:05,040 Speaker 2: consider when you lead a team. I think there are 76 00:04:05,720 --> 00:04:09,320 Speaker 2: one I like to say confident humility, and the second 77 00:04:09,440 --> 00:04:13,200 Speaker 2: is will to progress. The confident humility is important because 78 00:04:13,760 --> 00:04:15,600 Speaker 2: you have to pay attention not to make the mistake 79 00:04:15,640 --> 00:04:19,479 Speaker 2: that since you are in a different in a high 80 00:04:19,640 --> 00:04:22,520 Speaker 2: hierarchic opposition, you may think that you know everything, and 81 00:04:22,600 --> 00:04:25,719 Speaker 2: instead you have always to keep open eyes and open 82 00:04:25,760 --> 00:04:28,760 Speaker 2: ears to what other people are saying inside the company 83 00:04:28,760 --> 00:04:31,919 Speaker 2: and outside. And the will to progress because we have 84 00:04:31,960 --> 00:04:34,880 Speaker 2: always to have this kind of attention toward the future. 85 00:04:35,160 --> 00:04:38,640 Speaker 2: You said the best the past, but also find the 86 00:04:38,720 --> 00:04:44,320 Speaker 2: right compromise between what you verify to be true in 87 00:04:44,320 --> 00:04:46,240 Speaker 2: the past and what you believe is going to be 88 00:04:46,279 --> 00:04:50,080 Speaker 2: true in the future. There is this continum continuous equilibrium. 89 00:04:50,360 --> 00:04:52,440 Speaker 2: Let me say that you have to balance. 90 00:04:52,640 --> 00:04:55,160 Speaker 1: Is there a danger that once you become a chief 91 00:04:55,160 --> 00:04:58,560 Speaker 1: executive you lose that connection with clients and so you 92 00:04:58,720 --> 00:05:00,680 Speaker 1: I guess misinterpret what they one or what you need 93 00:05:00,720 --> 00:05:01,000 Speaker 1: to say. 94 00:05:01,040 --> 00:05:03,520 Speaker 2: This is one risk. There is also a risk not 95 00:05:03,560 --> 00:05:05,440 Speaker 2: to listen to supplier. There's also the risk not to 96 00:05:05,480 --> 00:05:08,760 Speaker 2: listen to employee. There is let's say, the risk that 97 00:05:09,120 --> 00:05:12,599 Speaker 2: you start to forget that you have two years and 98 00:05:12,640 --> 00:05:15,480 Speaker 2: one month, two years and two eyes, so you should 99 00:05:15,520 --> 00:05:18,200 Speaker 2: get four times more input than what you say. 100 00:05:18,440 --> 00:05:20,080 Speaker 4: So how do you avoid becoming complacent? 101 00:05:20,440 --> 00:05:22,279 Speaker 2: We are here because of the work of many people, 102 00:05:22,680 --> 00:05:24,320 Speaker 2: the people that are in the company now, the people 103 00:05:24,360 --> 00:05:27,240 Speaker 2: that were in the company in the past, all the stakeholders. 104 00:05:27,600 --> 00:05:30,320 Speaker 2: But we have words to keep alive, this will to progress. 105 00:05:30,440 --> 00:05:33,200 Speaker 2: And you know, there is one sentence of our founder 106 00:05:33,520 --> 00:05:36,719 Speaker 2: that I likes a lot, the one I like most, 107 00:05:36,839 --> 00:05:40,240 Speaker 2: and this said to those who come after me, I 108 00:05:40,320 --> 00:05:45,000 Speaker 2: leave a simple inheritance to keep alive the will to progress, 109 00:05:45,120 --> 00:05:48,159 Speaker 2: force it in the past. And for me, this tells 110 00:05:48,160 --> 00:05:51,240 Speaker 2: a lot about who we are and what we have 111 00:05:51,279 --> 00:05:52,880 Speaker 2: to be to be a good leader. 112 00:05:53,320 --> 00:05:55,840 Speaker 4: And so the biggest challenge now is becoming more. 113 00:05:55,839 --> 00:06:00,799 Speaker 2: Ingreen Definitely, definitely. The sustainability for us is important. Becoming 114 00:06:01,200 --> 00:06:04,320 Speaker 2: greater and important especially for a luxury company, because luxury 115 00:06:04,320 --> 00:06:09,520 Speaker 2: company makes emotional product, symbolic product, not functional product. So 116 00:06:09,800 --> 00:06:12,880 Speaker 2: becoming important for the social license and we are highly 117 00:06:12,880 --> 00:06:15,560 Speaker 2: committed over there. We want to become Carmon neutral by 118 00:06:15,560 --> 00:06:16,240 Speaker 2: twenty thirty. 119 00:06:16,600 --> 00:06:17,920 Speaker 4: It's tough. How difficult is it? 120 00:06:18,240 --> 00:06:20,160 Speaker 1: Do you remember the first time where we actually nunce 121 00:06:20,240 --> 00:06:22,440 Speaker 1: to your engineers that you want it to become green? 122 00:06:22,480 --> 00:06:24,839 Speaker 1: Because it's also about the sound. The ferraris a speed, 123 00:06:24,880 --> 00:06:28,880 Speaker 1: the sound the combustion engine. You're saying, Look, we're not 124 00:06:28,920 --> 00:06:30,480 Speaker 1: starting from scratch but almost. 125 00:06:30,600 --> 00:06:34,240 Speaker 2: It's important to look at the futures with realism but 126 00:06:34,320 --> 00:06:37,119 Speaker 2: also with energy because I think that when you work, 127 00:06:37,240 --> 00:06:39,960 Speaker 2: when you're listen around you, then ideas come and you 128 00:06:40,000 --> 00:06:40,960 Speaker 2: can make something unique. 129 00:06:41,000 --> 00:06:43,880 Speaker 1: I'm excited for you because you've tried the prototype, right, 130 00:06:44,000 --> 00:06:44,880 Speaker 1: do you like it? 131 00:06:45,040 --> 00:06:47,559 Speaker 2: I like a lot, and I'm happy because you cannot 132 00:06:47,560 --> 00:06:49,000 Speaker 2: see what I'm seeing in my memory. 133 00:06:49,080 --> 00:06:53,520 Speaker 4: Yes, it's like you'd have to kill me afterwards. How secret? 134 00:06:53,560 --> 00:06:55,919 Speaker 4: So how many prototypes are there before you actually go 135 00:06:55,920 --> 00:06:56,359 Speaker 4: to market? 136 00:06:56,680 --> 00:07:00,719 Speaker 2: Look, we have a specific we have very detailed the process, 137 00:07:01,240 --> 00:07:06,280 Speaker 2: so we have what we call technically moulotype prototype before 138 00:07:06,320 --> 00:07:08,880 Speaker 2: we end up with the final with the production of 139 00:07:08,920 --> 00:07:10,800 Speaker 2: the final product. 140 00:07:11,400 --> 00:07:13,080 Speaker 3: So it's very much detailed. 141 00:07:13,920 --> 00:07:18,360 Speaker 2: It takes several quarters and we test the car in 142 00:07:18,400 --> 00:07:21,440 Speaker 2: different conditions, but it's very very interesting. 143 00:07:21,520 --> 00:07:24,520 Speaker 4: What are you most most excited about? Is it the sound? 144 00:07:24,720 --> 00:07:28,320 Speaker 2: The driving emotion? Okay, the driving emotion, the performance and 145 00:07:28,440 --> 00:07:31,960 Speaker 2: also the design they go together. It's like three wheels, 146 00:07:32,360 --> 00:07:35,640 Speaker 2: These three wheels falling and moving at the right speed 147 00:07:35,800 --> 00:07:39,640 Speaker 2: all together, and then this tree is all encompassed by 148 00:07:39,680 --> 00:07:41,920 Speaker 2: the sustainability that I believe in it. 149 00:07:42,080 --> 00:07:44,480 Speaker 1: What was harder for you to get the company to 150 00:07:44,880 --> 00:07:47,400 Speaker 1: follow that dream? Or do you think it's actually getting 151 00:07:47,400 --> 00:07:49,760 Speaker 1: customers to buy an electric for Ari? 152 00:07:50,160 --> 00:07:52,559 Speaker 3: Look, we'll see in a couple of years. 153 00:07:52,760 --> 00:07:56,920 Speaker 2: There is a strong induces a lot of energy engineus 154 00:07:57,400 --> 00:08:02,120 Speaker 2: and in the factory, in the in technology on R 155 00:08:02,200 --> 00:08:04,640 Speaker 2: and D. The Errol committed to make something unique. 156 00:08:05,000 --> 00:08:09,640 Speaker 1: Can you give us a flavor or of how you 157 00:08:09,640 --> 00:08:11,720 Speaker 1: know whether it's the battery changes. 158 00:08:11,840 --> 00:08:14,800 Speaker 4: Can you give us any indication of how different? 159 00:08:15,160 --> 00:08:18,000 Speaker 2: I can't tell you this. It's going to be unique. 160 00:08:18,520 --> 00:08:20,880 Speaker 2: It's going to be a true when you look. 161 00:08:20,800 --> 00:08:22,920 Speaker 1: At margins and actually if you look at really high 162 00:08:23,000 --> 00:08:26,440 Speaker 1: end luxury, especially supercars, it seems that the sky is 163 00:08:26,440 --> 00:08:27,640 Speaker 1: the limit in terms of pricing. 164 00:08:27,800 --> 00:08:28,760 Speaker 4: Do you feel that's true? 165 00:08:29,000 --> 00:08:32,560 Speaker 2: The sky is the limit for innovation for sure, The 166 00:08:32,600 --> 00:08:34,840 Speaker 2: skies is not the limit I think for a pricing 167 00:08:34,920 --> 00:08:37,160 Speaker 2: because you have always to think there is a client 168 00:08:38,200 --> 00:08:40,880 Speaker 2: that to get those money. You had to work a lot, 169 00:08:41,840 --> 00:08:45,040 Speaker 2: so you have to balance right way. You have to 170 00:08:45,080 --> 00:08:47,880 Speaker 2: avoid it to look like really, and you have to 171 00:08:47,920 --> 00:08:51,400 Speaker 2: deliver something that is always in line with the emotion 172 00:08:51,520 --> 00:08:54,240 Speaker 2: you're able to deliver. I think this is fundamental. Otherwise 173 00:08:54,240 --> 00:08:59,800 Speaker 2: it becomes too much transactional. And the client are stakeholder 174 00:08:59,800 --> 00:09:02,920 Speaker 2: of our family and we have to make sure that 175 00:09:02,920 --> 00:09:04,160 Speaker 2: they feel part of this family. 176 00:09:05,520 --> 00:09:09,480 Speaker 1: Ferrari sells speed and extravagance to the world's wealthiest. 177 00:09:10,080 --> 00:09:14,000 Speaker 4: It's an exclusive space, yet there's no shortage of customers. 178 00:09:14,320 --> 00:09:17,480 Speaker 1: Demand for its first ever suv and other models has 179 00:09:17,559 --> 00:09:22,080 Speaker 1: been overwhelming. But despite this runaway success, the carmaker is 180 00:09:22,120 --> 00:09:25,599 Speaker 1: not tempted to crank up production. I continue the conversation 181 00:09:25,800 --> 00:09:28,080 Speaker 1: to the chief executive, Benedicto. 182 00:09:27,600 --> 00:09:34,360 Speaker 4: Vina, how our orders going the has been. 183 00:09:35,080 --> 00:09:38,720 Speaker 2: The reception acceptance of the Prosian has been extraordinarily high. 184 00:09:39,280 --> 00:09:41,040 Speaker 2: We had to stop the order for a while because 185 00:09:41,040 --> 00:09:43,719 Speaker 2: we had to understand auto manuals play chain so that 186 00:09:44,120 --> 00:09:47,199 Speaker 2: there is a strong transtraction of all over the world. 187 00:09:47,320 --> 00:09:48,920 Speaker 1: Were you surprised by that when you look at that, 188 00:09:49,000 --> 00:09:50,080 Speaker 1: I mean it's pretty incredible. 189 00:09:50,240 --> 00:09:54,600 Speaker 2: Yes, I said, we were surprised because we were not 190 00:09:54,720 --> 00:09:58,600 Speaker 2: expecting to get all disordered in so short time, but 191 00:09:58,720 --> 00:10:03,280 Speaker 2: we were, let's say, positively surprised. The car is really 192 00:10:03,280 --> 00:10:06,240 Speaker 2: beautiful when you try it, it's really you should come. 193 00:10:06,840 --> 00:10:08,440 Speaker 2: You should come and try it in Maranello. 194 00:10:08,679 --> 00:10:11,880 Speaker 4: I will watch out everyone else. I'm not the world's 195 00:10:11,880 --> 00:10:13,400 Speaker 4: best driver, not very away. 196 00:10:13,840 --> 00:10:16,280 Speaker 1: How difficult is it to when you land the product 197 00:10:16,480 --> 00:10:18,680 Speaker 1: to understand then who's going to buy? 198 00:10:18,960 --> 00:10:22,120 Speaker 4: Whose imagination captures it's it's. 199 00:10:22,320 --> 00:10:24,320 Speaker 1: You don't have spreadsheets for this right or you don't 200 00:10:24,320 --> 00:10:25,040 Speaker 1: have algorithms. 201 00:10:25,400 --> 00:10:27,200 Speaker 2: To be a leader, it means also that you have 202 00:10:27,280 --> 00:10:32,840 Speaker 2: to understand, interpret, what are the you know, the desires 203 00:10:32,880 --> 00:10:35,080 Speaker 2: and express the side of a client, and you have 204 00:10:35,120 --> 00:10:37,720 Speaker 2: to address before he is able to formalize. You have 205 00:10:37,760 --> 00:10:42,079 Speaker 2: to do something that is keeps them, leave them a surprise. 206 00:10:43,040 --> 00:10:46,840 Speaker 2: So we have people in our company that that know 207 00:10:47,000 --> 00:10:50,120 Speaker 2: what does it mean to drive and the emotion when 208 00:10:50,120 --> 00:10:53,280 Speaker 2: you drive the car. We have people in our company 209 00:10:53,280 --> 00:10:55,640 Speaker 2: that are able to take you know, the all the 210 00:10:55,679 --> 00:10:59,760 Speaker 2: Formula one technology innovation and bring to the to the car, 211 00:11:00,080 --> 00:11:02,160 Speaker 2: to sport cars. So I think we have all the 212 00:11:02,200 --> 00:11:06,080 Speaker 2: set of experience in the company and we can leverage yours. 213 00:11:06,080 --> 00:11:08,280 Speaker 2: So in the right way what our clients are telling 214 00:11:08,320 --> 00:11:09,400 Speaker 2: us to make something unique? 215 00:11:09,480 --> 00:11:13,400 Speaker 1: How secret are we talking like military grade basis where 216 00:11:13,440 --> 00:11:13,880 Speaker 1: you hide? 217 00:11:15,800 --> 00:11:18,959 Speaker 2: We are riding it pretty much we are, I say, 218 00:11:19,000 --> 00:11:22,240 Speaker 2: this is very important. Confidentiality is very important. This is 219 00:11:22,280 --> 00:11:26,840 Speaker 2: part of the experience. You don't you don't want anyone. 220 00:11:27,200 --> 00:11:29,640 Speaker 2: Let me say, to see the cars ahead of time. 221 00:11:30,080 --> 00:11:32,559 Speaker 2: It's not so easy because the car is big. Usually 222 00:11:32,720 --> 00:11:34,960 Speaker 2: it's not like a smaller object in your pocket. 223 00:11:35,000 --> 00:11:37,920 Speaker 3: You cannot be yes, exactly how much do you drive it? 224 00:11:38,280 --> 00:11:43,200 Speaker 2: I like to drive on the truck with some colleague 225 00:11:43,520 --> 00:11:45,640 Speaker 2: that are I like to spend time because also they 226 00:11:45,640 --> 00:11:48,719 Speaker 2: are teaching me to understand more and more what does 227 00:11:48,760 --> 00:11:51,320 Speaker 2: it mean a Ferrari In the last two years, In 228 00:11:51,360 --> 00:11:53,760 Speaker 2: the last two years, I get to know more and 229 00:11:53,800 --> 00:11:56,000 Speaker 2: more of the Ferrari. You know, there is this dimension 230 00:11:56,040 --> 00:11:59,920 Speaker 2: of family in Ferrari is pretty unique and you learn 231 00:12:00,040 --> 00:12:02,679 Speaker 2: a lot. It's coming back to the mansion of you know, 232 00:12:03,360 --> 00:12:06,840 Speaker 2: learning from everyone. This is very very very very important. 233 00:12:06,679 --> 00:12:10,960 Speaker 1: To younger clients or do females actually look for different 234 00:12:11,000 --> 00:12:12,480 Speaker 1: things in the cars if you want. 235 00:12:12,520 --> 00:12:13,760 Speaker 3: There is only one common trait. 236 00:12:14,360 --> 00:12:17,000 Speaker 2: The people want to have fun when when the driver 237 00:12:17,160 --> 00:12:20,880 Speaker 2: are That is common across all the places, all the 238 00:12:20,880 --> 00:12:22,240 Speaker 2: people I met. 239 00:12:22,920 --> 00:12:25,480 Speaker 4: Who do is he as your biggest rivals? Actually right now? 240 00:12:25,559 --> 00:12:28,720 Speaker 2: But look, the drivers can be a little bit everywhere. 241 00:12:29,160 --> 00:12:32,640 Speaker 2: Based on my experience also on the previous business life, 242 00:12:32,679 --> 00:12:35,520 Speaker 2: you have always to pay attention to companies that are 243 00:12:36,120 --> 00:12:40,440 Speaker 2: nimble and agile because they can surprise the market. 244 00:12:40,559 --> 00:12:42,280 Speaker 4: So really you have to be paranoid to be a 245 00:12:42,280 --> 00:12:43,240 Speaker 4: good absolutive. 246 00:12:44,120 --> 00:12:46,000 Speaker 2: I think you have to be paranoid always for what 247 00:12:46,040 --> 00:12:47,959 Speaker 2: you do because when you are, you know, on the 248 00:12:48,320 --> 00:12:50,360 Speaker 2: leading when you are on the leading edge and you 249 00:12:50,400 --> 00:12:53,080 Speaker 2: want to stay there, you're always to look with a 250 00:12:53,120 --> 00:12:56,040 Speaker 2: lot of attention towards happening. It comes always to the 251 00:12:56,080 --> 00:12:59,320 Speaker 2: same story. Listen, listen what is happening around you? 252 00:12:59,600 --> 00:13:02,480 Speaker 1: But for Supercours, is it really possible to have arrival 253 00:13:02,480 --> 00:13:06,400 Speaker 1: that start from scratch, that's almost started by a software. 254 00:13:06,679 --> 00:13:10,960 Speaker 2: It's maybe it's not so easy like in I tech 255 00:13:11,120 --> 00:13:15,040 Speaker 2: because in iech usually the heritage is not so important. 256 00:13:15,559 --> 00:13:17,960 Speaker 2: When you talk about the luxury company, there's this heritage 257 00:13:17,960 --> 00:13:20,880 Speaker 2: dimension that is very important. But you know, this is 258 00:13:20,880 --> 00:13:23,920 Speaker 2: the past. Let's look at the future. So for me, 259 00:13:24,360 --> 00:13:30,560 Speaker 2: the lesson is always pay attention to possible competitors that 260 00:13:30,720 --> 00:13:35,120 Speaker 2: are small, agile and nimble, because this can make a difference. 261 00:13:35,160 --> 00:13:37,160 Speaker 3: So always open years. 262 00:13:37,840 --> 00:13:41,280 Speaker 1: How would you worry about increasing production and therefore becoming 263 00:13:41,760 --> 00:13:44,520 Speaker 1: I guess, like you know, less high end luxury. 264 00:13:44,960 --> 00:13:49,000 Speaker 2: We are making thirteen fourteen thousand carreers. We will not 265 00:13:49,160 --> 00:13:51,400 Speaker 2: grow a lot in the futures because we want to 266 00:13:51,440 --> 00:13:54,200 Speaker 2: grow more for value, not for volume. 267 00:13:55,080 --> 00:13:57,120 Speaker 3: And maybe one numbers you know. 268 00:13:57,160 --> 00:14:01,000 Speaker 2: Many Carterrari did we put on role since the beginning, 269 00:14:01,040 --> 00:14:04,600 Speaker 2: since the first one two hundred fifty hundred and sixty thousand, 270 00:14:05,240 --> 00:14:09,120 Speaker 2: So a quarter of million cars in a market where 271 00:14:09,160 --> 00:14:12,160 Speaker 2: there are million and million car. 272 00:14:13,040 --> 00:14:15,640 Speaker 4: Every year, and there's a film coming out. 273 00:14:15,960 --> 00:14:21,880 Speaker 2: Yeah, we find I think it is giving a good 274 00:14:22,600 --> 00:14:26,240 Speaker 2: another view about one years that is very important for 275 00:14:26,280 --> 00:14:29,800 Speaker 2: the year of our for the life of our founders 276 00:14:30,280 --> 00:14:34,200 Speaker 2: nineteen fifty seven. I saw it and for me was 277 00:14:34,280 --> 00:14:36,800 Speaker 2: very useful. I think this is enriching if you want 278 00:14:37,080 --> 00:14:41,320 Speaker 2: our history, because there are many ways you can know 279 00:14:41,360 --> 00:14:44,400 Speaker 2: the history of the Ferrari, by reading books, by watching movies, 280 00:14:45,000 --> 00:14:46,320 Speaker 2: and also by talking to people. 281 00:14:46,680 --> 00:14:47,960 Speaker 4: Talked me a little bit about batteries. 282 00:14:47,960 --> 00:14:50,920 Speaker 1: I mean, this is the next frontier, different tier for 283 00:14:50,960 --> 00:14:55,040 Speaker 1: anyone in cars. How much of the new Ferrari will 284 00:14:55,080 --> 00:14:57,560 Speaker 1: you do in house? And how much do you have 285 00:14:57,600 --> 00:14:59,120 Speaker 1: to rely on companies that. 286 00:15:00,600 --> 00:15:03,640 Speaker 2: I think innovation can be done in two ways. One 287 00:15:03,720 --> 00:15:07,640 Speaker 2: is innovation in ows. One is innovation with strategic supplier. 288 00:15:08,200 --> 00:15:10,280 Speaker 2: We selected what we want to make in ours. We 289 00:15:10,320 --> 00:15:12,440 Speaker 2: want to make in Ouse, the battery, we want to 290 00:15:12,480 --> 00:15:15,680 Speaker 2: make in Ouse, the engine, the electronics, and then the 291 00:15:15,680 --> 00:15:18,200 Speaker 2: assembly of the cars. For except in this respect of 292 00:15:18,240 --> 00:15:23,160 Speaker 2: electric electrification, then we will use the cell coming from outside. 293 00:15:23,440 --> 00:15:25,400 Speaker 2: And we selected some strategic supplier for this. 294 00:15:25,880 --> 00:15:26,960 Speaker 4: How do you choose them? 295 00:15:27,400 --> 00:15:30,000 Speaker 2: We choose based on two criteria, the competence and the 296 00:15:30,120 --> 00:15:34,120 Speaker 2: time and the speed the and the time to make 297 00:15:34,200 --> 00:15:36,080 Speaker 2: something new. This is very important. 298 00:15:36,160 --> 00:15:38,960 Speaker 1: Are some places actually surprising where you have a lot 299 00:15:39,000 --> 00:15:40,000 Speaker 1: more demand that. 300 00:15:40,040 --> 00:15:43,960 Speaker 2: Are some countries are growing because we are a luxury company. 301 00:15:44,120 --> 00:15:47,000 Speaker 2: Korea is one of these. Taiwan is like another one. 302 00:15:47,640 --> 00:15:51,320 Speaker 2: So I think the attraction of the brand is pretty 303 00:15:51,320 --> 00:15:52,600 Speaker 2: good across all the states. 304 00:15:54,400 --> 00:15:58,440 Speaker 1: Benedetovinia came to Ferrari from the world of microchips. The 305 00:15:58,480 --> 00:16:01,400 Speaker 1: tech pioneer who has brought in to navigate the carmaker's 306 00:16:01,400 --> 00:16:05,640 Speaker 1: electric future has sounded a warning on artificial intelligence. I 307 00:16:05,640 --> 00:16:11,800 Speaker 1: continue the conversation a lot. What does your typical day 308 00:16:11,840 --> 00:16:13,560 Speaker 1: look like? So what time do you wake up? 309 00:16:14,040 --> 00:16:16,840 Speaker 2: I wake up at six thirty and then I go 310 00:16:16,920 --> 00:16:20,680 Speaker 2: to work. I go to work and I stay there. 311 00:16:20,760 --> 00:16:21,160 Speaker 3: I mean. 312 00:16:23,680 --> 00:16:27,000 Speaker 2: The evening when I'm a vacation, I don't work. 313 00:16:27,720 --> 00:16:28,000 Speaker 3: Good. 314 00:16:28,440 --> 00:16:30,040 Speaker 4: That's good. Do you do you read? 315 00:16:30,120 --> 00:16:32,040 Speaker 3: How do you keep up to I like to read 316 00:16:32,040 --> 00:16:32,360 Speaker 3: a lot. 317 00:16:32,520 --> 00:16:34,520 Speaker 2: I like to read a lot because the read the 318 00:16:34,560 --> 00:16:40,280 Speaker 2: books are a good summary of the experience of people. 319 00:16:41,200 --> 00:16:44,760 Speaker 2: So I like in our company we exchange books, so 320 00:16:44,800 --> 00:16:47,160 Speaker 2: we read books of different times, different kinds, and. 321 00:16:47,080 --> 00:16:49,720 Speaker 1: You give us you're the best book that you've read 322 00:16:49,800 --> 00:16:51,240 Speaker 1: that maybe you I don't. 323 00:16:51,000 --> 00:16:53,600 Speaker 2: Signed with or I like to read books written by 324 00:16:53,640 --> 00:16:58,720 Speaker 2: Nobel Price. Not in technical topics because so one of 325 00:16:58,760 --> 00:17:03,120 Speaker 2: the books I like a lot, so not the physics. 326 00:17:04,200 --> 00:17:09,000 Speaker 2: But now I'm looking at reading some other books more 327 00:17:09,040 --> 00:17:13,960 Speaker 2: about the design and also about other people that left 328 00:17:14,200 --> 00:17:16,800 Speaker 2: a mark in history. This is very interesting. There is 329 00:17:16,840 --> 00:17:18,800 Speaker 2: also another interesting book that I got as a gift 330 00:17:18,840 --> 00:17:23,639 Speaker 2: to Why we Drive about cars. You know, about the 331 00:17:23,680 --> 00:17:27,760 Speaker 2: importance for people to drive the car, not to be 332 00:17:27,800 --> 00:17:29,040 Speaker 2: in carletter autonomous. 333 00:17:29,400 --> 00:17:33,280 Speaker 1: My kids that are around ten may not ever know 334 00:17:33,320 --> 00:17:36,280 Speaker 1: how to drive is that a problem for Ferrari? 335 00:17:37,440 --> 00:17:40,240 Speaker 2: I think that the people there will be people that 336 00:17:40,400 --> 00:17:42,199 Speaker 2: they may not to know how to drive, and there 337 00:17:42,240 --> 00:17:46,120 Speaker 2: will be people that will love the pleasure to learn 338 00:17:46,160 --> 00:17:49,639 Speaker 2: to drive and to drive. I don't think that you 339 00:17:49,680 --> 00:17:53,479 Speaker 2: know that the youngster will not take care anymore about driving. 340 00:17:53,720 --> 00:17:57,960 Speaker 2: There are some skills also that you can develop when 341 00:17:57,960 --> 00:18:02,280 Speaker 2: you are driving. And also you know, we are in 342 00:18:02,320 --> 00:18:07,920 Speaker 2: a world where everything is done sometimes too much by 343 00:18:07,920 --> 00:18:14,000 Speaker 2: the computer. Now we have many things we are we 344 00:18:14,040 --> 00:18:17,000 Speaker 2: are asking. We don't remember anymore phone numbers. In the 345 00:18:17,040 --> 00:18:20,080 Speaker 2: past we had to remember when we make a research. 346 00:18:20,800 --> 00:18:22,960 Speaker 2: It's very easy on internet. You find a lot of things. 347 00:18:22,960 --> 00:18:25,480 Speaker 2: But we have always to remember that we are human 348 00:18:25,520 --> 00:18:28,439 Speaker 2: beings and we have always to keep alive, you know, 349 00:18:28,480 --> 00:18:30,760 Speaker 2: the critical thinking, because at the end of the story, 350 00:18:30,800 --> 00:18:34,959 Speaker 2: this is at the base of our free will. We 351 00:18:35,000 --> 00:18:38,920 Speaker 2: have to pay attention that the new technology AI, whatever, 352 00:18:39,080 --> 00:18:41,680 Speaker 2: it's always a tool that must be used by a man. 353 00:18:42,520 --> 00:18:46,240 Speaker 2: Must not be the other way around. AI using the 354 00:18:46,240 --> 00:18:49,159 Speaker 2: men is men using AI. And we have to pay attention. 355 00:18:49,440 --> 00:18:51,720 Speaker 4: What does a good day for What does a good 356 00:18:51,760 --> 00:18:52,800 Speaker 4: vineyard day look like? 357 00:18:52,960 --> 00:18:56,040 Speaker 2: When you see the progress getting out, when you see 358 00:18:56,040 --> 00:19:00,240 Speaker 2: that the teams are engaged and they're doing something new 359 00:19:00,560 --> 00:19:03,520 Speaker 2: and they love it in the air satisfied. That is 360 00:19:03,560 --> 00:19:07,760 Speaker 2: a good win a day business wise, okay, good days 361 00:19:07,760 --> 00:19:09,359 Speaker 2: when I spend time with my wife and my daughter. 362 00:19:10,400 --> 00:19:11,960 Speaker 4: Fair You also. 363 00:19:11,840 --> 00:19:15,000 Speaker 1: Believe in smaller teams, right, and having smaller teams because 364 00:19:15,040 --> 00:19:17,119 Speaker 1: people feel empowered, so you feel part of something. 365 00:19:17,720 --> 00:19:19,440 Speaker 2: I believe that when you want to do something new, 366 00:19:20,200 --> 00:19:24,000 Speaker 2: the smaller team and one gear more when the big 367 00:19:24,320 --> 00:19:27,760 Speaker 2: when the teams are too big, that the people that 368 00:19:27,840 --> 00:19:30,760 Speaker 2: are part of this team may not feel so important 369 00:19:31,680 --> 00:19:36,200 Speaker 2: as a contributors. Why Because I feel like because there's 370 00:19:36,240 --> 00:19:40,000 Speaker 2: a big difference. In a big team, you feel you 371 00:19:40,040 --> 00:19:43,159 Speaker 2: are like a number. In a small team, you are 372 00:19:43,160 --> 00:19:46,760 Speaker 2: a person that is contributing why way or another. And 373 00:19:46,800 --> 00:19:51,200 Speaker 2: also the speed of learning, the speed of the understanding 374 00:19:51,840 --> 00:19:54,280 Speaker 2: from mistake is much faster if it. 375 00:19:54,359 --> 00:19:57,000 Speaker 1: Was a much bigger company. Is it more difficult to 376 00:19:57,080 --> 00:19:57,920 Speaker 1: manage more? 377 00:19:58,359 --> 00:20:00,840 Speaker 2: Look, we have a big advantages for because we are 378 00:20:01,119 --> 00:20:03,480 Speaker 2: five six thousand people. We are more of us. A 379 00:20:03,520 --> 00:20:06,320 Speaker 2: lot of people are in the same location. When you 380 00:20:06,400 --> 00:20:10,760 Speaker 2: have people spread all over the space, it's not easy. 381 00:20:10,880 --> 00:20:12,600 Speaker 4: What does a bad vinya day look like? 382 00:20:13,160 --> 00:20:19,760 Speaker 2: A bad Vignya day is a day where you are 383 00:20:19,800 --> 00:20:23,840 Speaker 2: not learning anything. It's like a static day. 384 00:20:24,680 --> 00:20:25,240 Speaker 3: There are. 385 00:20:27,720 --> 00:20:32,080 Speaker 2: There are some days where you cannot You would like 386 00:20:32,119 --> 00:20:35,080 Speaker 2: to do more, you would like to understand more, and 387 00:20:35,160 --> 00:20:39,160 Speaker 2: instead you're there. It's not when you do mistaken when 388 00:20:39,200 --> 00:20:41,800 Speaker 2: you if you want, you don't see that kind of 389 00:20:43,080 --> 00:20:46,480 Speaker 2: change of gears in your thinking process in the team. 390 00:20:46,840 --> 00:20:48,080 Speaker 4: And so how do you pick it up again? 391 00:20:48,119 --> 00:20:50,879 Speaker 2: I mean, first of all, you have to accept that 392 00:20:51,040 --> 00:20:53,560 Speaker 2: not all the days could be good, because also these 393 00:20:53,640 --> 00:20:56,720 Speaker 2: days that are not good leave. 394 00:20:56,600 --> 00:21:00,840 Speaker 3: You something you know for the good day. 395 00:21:02,000 --> 00:21:05,639 Speaker 2: I think this momentary important also for the brain, at 396 00:21:05,720 --> 00:21:12,919 Speaker 2: least for me, where you you realize that it's not 397 00:21:13,040 --> 00:21:18,280 Speaker 2: so easy, there is difficulty, and you come back to 398 00:21:18,800 --> 00:21:19,800 Speaker 2: the basic. 399 00:21:19,880 --> 00:21:22,960 Speaker 1: Let's say, is there a client that you don't have 400 00:21:23,000 --> 00:21:24,080 Speaker 1: that you would really. 401 00:21:23,840 --> 00:21:24,280 Speaker 4: Want to have. 402 00:21:25,280 --> 00:21:27,600 Speaker 2: There are several, but I don't want to mention because 403 00:21:28,480 --> 00:21:33,160 Speaker 2: there are several maybe one one, Yes, there are several. 404 00:21:33,600 --> 00:21:36,120 Speaker 2: I was happy because I had one in mind that 405 00:21:38,200 --> 00:21:41,119 Speaker 2: let's say it's going to take our away in twenty 406 00:21:41,680 --> 00:21:44,679 Speaker 2: or twenty four. I cannot say no, you don't have to. 407 00:21:44,640 --> 00:21:46,439 Speaker 4: Say, but this is like a personal satisfaction. 408 00:21:48,040 --> 00:21:51,440 Speaker 2: Yeah, because it's like setting a target and try to 409 00:21:51,480 --> 00:21:54,040 Speaker 2: achieve it. You will to progress, you know, Let's see 410 00:21:54,359 --> 00:21:57,040 Speaker 2: if I am able. So I had a few class, 411 00:21:57,080 --> 00:22:01,280 Speaker 2: a few friends of my that some friends of mine 412 00:22:01,280 --> 00:22:04,399 Speaker 2: that when my name was announced in June twenty one 413 00:22:04,480 --> 00:22:06,119 Speaker 2: that I was beginning to see of Ferrari, I got 414 00:22:06,160 --> 00:22:09,000 Speaker 2: some congratulations, and then I said, let me see if 415 00:22:09,720 --> 00:22:11,840 Speaker 2: I am able to bring those friends in the in 416 00:22:12,000 --> 00:22:15,320 Speaker 2: the Ferrari world that was my I succeeded with some 417 00:22:15,440 --> 00:22:17,359 Speaker 2: of them, not all of them, but sexy is with 418 00:22:17,440 --> 00:22:18,960 Speaker 2: someone I love that. 419 00:22:19,119 --> 00:22:22,320 Speaker 4: How did you celebrate? Who's the first person you called 420 00:22:22,640 --> 00:22:23,600 Speaker 4: when you got the job? 421 00:22:23,840 --> 00:22:27,560 Speaker 2: The first, clearly was my wife and my daughter were there, 422 00:22:27,880 --> 00:22:31,399 Speaker 2: and then you know, I called it. I did not 423 00:22:31,480 --> 00:22:33,720 Speaker 2: say Ferrari because I could not yet disclose. But I 424 00:22:33,800 --> 00:22:37,560 Speaker 2: called my previous boss, Bruno. He taught me many things. 425 00:22:38,760 --> 00:22:42,359 Speaker 2: So I called him and was an interesting phone call 426 00:22:43,200 --> 00:22:44,960 Speaker 2: because at the beginning he was not so happy that 427 00:22:45,040 --> 00:22:46,480 Speaker 2: I was leaving the company was working for. 428 00:22:46,600 --> 00:22:49,320 Speaker 3: But then he understood the Ferrari. You know, Ferrari, you 429 00:22:49,400 --> 00:22:51,040 Speaker 3: cannot say differently. 430 00:22:51,240 --> 00:22:52,680 Speaker 4: What's the most important thing he taught you? 431 00:22:54,000 --> 00:22:57,440 Speaker 2: He taught me something that is always remembered. Time to 432 00:22:57,560 --> 00:23:00,919 Speaker 2: market is important, but marketing time is much more importance. 433 00:23:00,960 --> 00:23:04,760 Speaker 2: We have to listen to what the weak signal of 434 00:23:04,880 --> 00:23:07,119 Speaker 2: the client, but then you have to interpret it and 435 00:23:07,240 --> 00:23:10,960 Speaker 2: how to interpret it with a network of people that 436 00:23:11,119 --> 00:23:14,399 Speaker 2: are let's say, that are different. 437 00:23:14,960 --> 00:23:16,639 Speaker 3: So very often we say out of the box. 438 00:23:16,800 --> 00:23:19,440 Speaker 2: I like to say more out of the network to 439 00:23:19,600 --> 00:23:22,080 Speaker 2: talk with other interpreter in a way that you. 440 00:23:22,080 --> 00:23:23,080 Speaker 3: Can make something unique. 441 00:23:23,280 --> 00:23:25,359 Speaker 4: It's thank you so much for your time, thank you, 442 00:23:25,600 --> 00:23:26,280 Speaker 4: thank you so much.