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Exor: John Elkann on the electric revolution

The president of Exor, John Elkann, underlines, in the traditional letter sent to the shareholders, the importance of the electric plan.

Even a blind person would see it: the automotive industry turns to electric. In this climate, Exor is about to take the field with two heavy loads, namely the subsidiary Ferrari and Stellantis, of which it is the main shareholder. With a clear idea: beyond cars, nuclear energy will play a decisive role in addressing “the triple challenge of reducing energy scarcity, electrifying industrial applications and replacing fossil fuels” . In the usual letter sent to the shareholders of Exor, the holding company of the Agnelli family, the president John Elkann underlines how the company is a shareholder of two of the largest urania producers on a global scale: the Canadian Cameco and NexGen Energy.

Nuclear plants he notes – provide reliable and carbon-free energy, they are the ideal complement to intermittent renewable energy sources such as solar and wind. Over the past year, growing concerns from power generation companies over the security of future supplies and considerable activity by financial investors have meant that uranium prices have almost doubled. “

Energy transition at a brisk pace

The energy transition in the automotive sector is proceeding at a rapid pace. “In 2021 alone – explains Elkann – there were 11 significant placements on the stock exchange of pure electric car manufacturers. The 10 largest companies that exclusively produce electric vehicles, which together sold about 1% of total registered cars and a third of electric cars, were worth a total of more than $ 1.5 trillion at the end of the year. In contrast, the 10 largest traditional car groups, which sold most of the remaining 99% of new cars registered, were worth 1 trillion “ .

As far as sport is concerned, in addition to football (read Juventus), there is also talk of Ferrari in Formula 1 : “with Charles Leclerc and Carlos Sainz, the Scuderia has the best pair of drivers on the starting grid” .