First Ferrari EV To Cost Over $500k, Second EV Reportedly In The Works | Carscoops

The Italian brand is reportedly building another plant in Maranello, that could contribute to an increased production output of around 20,000 units

Ferrari is getting ready to enter the EV world with its first zero-emission model set to debut in late 2025. While details on the electric Ferrari’s design remain undisclosed, an inside source told Reuters that it will start at a minimum price of €500,000 ($537,000). The source also hints at another EV from Maranello entering early stages of development, withholding further specifics.

While other automakers are in fear of the EV slowdown, slashing prices of mainstream models, Ferrari seems confident that its own offering will attract wealthy buyers. Andrea Balloni, Mediobanca analyst, expects Ferrari’s new EV to be a “niche model, accounting for just over 10 percent of annual sales”, as Maranello’s clients still prefer ICE models.

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The rumored €500,000 price tag would position the electric Ferrari slightly above the plug-in hybrid SF90 Stradale in terms of cost, and significantly higher than most current performance EVs on the market. However, it remains considerably more affordable than hypercars like the $2-million Rimac Nevera, which are four times as expensive

Here, it’s important to note that the reported figure does not include any extras, which according to Reuters, typically add 15-20% to the price of a new Ferrari

New Plant In Maranello

The as-yet-unnamed EV will be manufactured at a new plant in Maranello, currently under construction and reportedly set to be inaugurated this Friday. According to the same source that provided details about Ferrari’s EV, the new factory is expected to become fully operational within three to four months.

The new assembly line will allow Ferrari to build models with gasoline, hybrid, and EV powertrains. This could boost production by up to a third, from 13,663 units in 2023 to around 20,000 units annually.

While boosting revenue, the increased production could potentially threaten Ferrari’s exclusivity. To maintain this, the company intends to cap production for each model and keep total output below 20,000 units. However, higher production could alleviate long waiting lists and meet rising demand, particularly in emerging markets.

Second EV Under Development

The debut of Ferrari’s second EV is still far off in the future, as the Purosangue and the first EV are already sufficient to utilize the increased production capacity in the short term. Regarding Ferrari’s competitors, Lamborghini will enter the EV market with the production version of the Lanzador crossover in 2028, while McLaren asserts that technology for powerful and lightweight EVs won’t be ready before then.