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Ferrari CEO Benedetto Vigna complimented Tesla Inc TSLA for a contribution to the automotive industry in February.
What Happened: Vigna said in an interview with Bloomberg in February that the “big contribution” Tesla made to the automotive industry was giving it a “wake-up call.”
“Things used to happen too slowly. Tesla shook up the industry and accelerated processes and decisions. They were faster and more agile.”
He noted that Tesla was a “functional car” and it was “meant to go from one point to another.”
See Also: How To Buy Electric Vehicle (EV) Stocks
Why It Matters: Ferrari has received a patent for a “pulsejet” system, a concept similar to the one proposed for the Tesla Roadster, a vehicle still in development, reported Fox News.
Vigna noted that “some” regulators had decided the community should go electric “right or wrong” and that it was going to happen, reported Bloomberg.
The Ferrari executive said there’s “too much hype” about electrification as well.
Tesla CEO Elon Musk noted Vigna’s comments and thanked him “on behalf of the Tesla team!”
Read Next: Tesla’s New Loyalty Program Offers 6 More Years Of Unlimited Supercharging — But There’s A Catch
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