The man who turned Ferrari into a cultural icon wants to do the same for German rail. His weapon: €3.6 billion, 26 Siemens Velaro trains, and a proven Italian playbook that cut ticket prices by 40 percent.
Germany has a train problem. In 2025, Deutsche Bahn’s long-distance network posted its worst punctuality record in history: only 60.1% of trains arrived within six minutes of schedule, and that figure keeps collapsing. The state-owned operator simultaneously reported a net loss of €2.3 billion.
Interesting disruptor
Into this unglamorous landscape rides an unexpected new captain of industry: Luca Cordero di Montezemolo. Best known as the former head of Ferrari. When he was ousted by then FCA chief Marchionne, Montezemolo didn’t rest on his laurels. He became co-founder and chairman of Italy’s private high-speed operator Italo, which turned out to be one of the most interesting disruptors in European mobility.
After successfully breaking into the Italian rail market, Italo is accelerating. It has formally announced plans to enter the German high-speed rail market within two years. The expansion is backed by a €3.6 billion investment program.
The initial fleet of 26 Siemens Velaro trains (with options for 14 more) will operate across 18 cities on a 1,300-kilometer network, covering two main axes: Munich-Cologne-Dortmund with hourly departures, and Munich-Berlin-Hamburg every two hours. Around 50 daily services in total, aimed squarely at the ICE routes that DB considers its most valuable assets. At least, that’s the idea.
Average ticket price
“Today’s German market strongly resembles what the Italian market looked like before competition arrived,” Montezemolo told Frankfurter Allgemeine Zeitung. “We are confident we can contribute significantly to improving rail services.”
Italo launched operations in Italy in 2012, breaking Trenitalia’s long-standing monopoly on domestic high-speed routes. What happened next became a case study that the European Union now cites when pushing other countries toward open-access competition. Average ticket prices on Italian high-speed routes fell by around 40 percent in the years following Italo’s arrival. Passenger volumes climbed. Both operators expanded their networks.
Montezemolo is explicit about what he’s exporting across the Alps: “We have learned a great deal from the mistakes of our early years. What we bring to Germany is that experience: how to build a sustainable operation from day one.” Italo confirms that the rail operating license has already been obtained, while the safety certification process is underway.
The race is on
What will passengers get? All three Italo cabin classes – Smart, Prima, and Club Executive – will be retained. These offer reserved seating, leather upholstery, and satellite WiFi. That last detail is pointed out: reliable onboard connectivity has been a persistent weak spot on German long-distance services.
Italo is not in Germany yet. The local network manager needs to confirm the long-term track access allocations the company needs. And these are contested by other competitors, like Flix Train.
The catch is that the Siemens deal must be signed before permission is granted, which poses a risk. Postponing train orders is not easy and could jeopardize the plan altogether. Whether Germany’s rail operators face new competition seems a race against the clock. But then again, Montezemolo knows all about racing from his previous employer.
