China has seen outbreaks of the virus since the government there abandoned its strict zero-Covid policies.
Thus far, Ferrari has managed the pandemic better than expected.
The deal gives the U.K. luxury carmaker much-needed breathing space following a turbulent start to life as a public company.
The dynasty is known for its clothing line, but it also ran the the bridge that collapsed in Genoa, killing 43 people.
U.S. automakers have woken up to the fact that SUVs and pickup trucks are where the most profits lie.
“If there is an electric supercar to be built, then Ferrari will be the first,” CEO Sergio Marchionne said.
The pricey models are crucial to the strategic plans of both luxury automakers.
The luxury carmaker could aim for a valuation similar to Ferrari, which was listed in New York in 2015.
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