First Electric Ferrari to cost 500,000 euros, second model in development

The first Electric Ferrari could cost around 500,000 euros ($535,000), the news comes as the company is preparing to boost its production capacity to a new number.

The Italian supercar company wants to release its initial electric vehicle (EV) soon but the price may only be compatible with luxurious drivers, like other Ferraris.

This price is more than the ICE version of a typical Ferrari model averaging at 350,000 euros. Porsche’s electric Taycan also starts at around 100,000 euros.

Compared to this, a Tesla Model 3 and Y starts below $40,000. These two are the current consumer favorites alongside options from Hyundai, Ford, and others.

Ferrari is famous for its hounding engine sound but the electric powertrain is largely silent. Ferrari engineers are working on “Sound Signatures” for its electric vehicles to produce combustion engines like sound.

The other challenge is to bring the ICE engine power to the electric drivetrain to deliver the absolute track performance.

Ferrari (Image source – Ferrari)

Ferrari has a new plant in Maranello, Northern Italy. It is reportedly produced less than 14,000 cars in 2023 and with new improvements the production likely to grow around 20,000. The Maranello factory will provide assistance to make petrol, hybrid cars, EVs, and car components.

The company is also planning a second EV model but is still in the early stages of development. There are no additional details available about this model at the moment.

Ferrari has not revealed any details about the launch of its first EV. However, rival Lamborghini aiming to release its first electric supercar by 2028 while remaining cautious about the market.

(source)