Ferrari’s First Electric Car Will Cost Over $500,000

Ferrari’s first all-electric car will cost 500,000 euros ($535,000), a source familiar with the matter has told Reuters.

Planned price shows that Ferrari has confidence that ultra-wealthy individuals are ready for its luxury electric car.

Ferrari this week inaugurated a new plant in Maranello that will give the Italian sports car maker an additional vehicle assembly line.

The new E-building production facility will allow Ferrari to make not only petrol and hybrid cars but also new EVs.

Ferrari’s first electric car due for launch next year will cost at least 500,000 euros ($535,000), a source familiar with the matter has told Reuters, although CEO Benedetto Vigna refused to confirm the report this week during the opening of the brand’s new plant that will make the model.

The source also told Reuters that a second EV model is under development, adding the process was at an early stage, and “that the company might not want to increase overall production to 20,000 vehicles per year, at least in the short term”.

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The planned price for the brand’s first battery-powered car shows that Ferrari, famed for its roaring petrol engines, has confidence that ultra-wealthy individuals are ready for the upcoming luxury electric car.

Ferrari’s newly inaugurated E-building production facility at its factory in Maranello will give the Italian sports car manufacturer an additional vehicle assembly line, allowing it to make not only petrol and hybrid cars, but also new EVs.

Production of Ferrari models will commence in January 2025, with the ICE-powered SF90 1,000-hp sports car and the Purosangue Coupe SUV likely to be the first models to run down the new state-of-the-art line.

In April, Ferrari CEO Benedetto Vigna told shareholders that the “state of the art plant will assure us of flexibility and technical capacity in excess of our needs for years to come”.

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