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Ferrari’s First Electric Vehicle Set to Launch with a $500,000 Price

Ferrari’s first electric vehicle is scheduled to launch in late 2025 and will be priced at over $500,000. The exact starting price is anticipated to be around €500,000 (approximately $535,000) not including optional add-ons which could increase the cost by 15-20%.

Ferrari’s First Electric Vehicle Set to Launch with a $500,000 Price

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Ferrari’s first EV is scheduled to debut in the last quarter of 2025. The car’s development is ahead of schedule.

The EV will be manufactured at a new facility in Maranello, Italy, which will also produce electric motors, inverters and batteries.

The plant is set to increase Ferrari’s output, with projections of producing around 20,000 vehicles annually by 2025.

The EV is expected to feature a stunning design likely to retain the brand’s iconic aesthetic while incorporating modern, aerodynamic features suited for an electric powertrain.

Although specific performance details remain under wraps, it’s anticipated that Ferrari’s first EV will deliver exceptional speed and handling with the brand’s reputation for high-performance vehicles.

Ferrari promises that the EV will produce an authentic sound. This could involve the amplification of electric motor noises to deliver an engaging driving experience.

Ferrari’s entry into the electric segment follows similar moves by competitors. Lamborghini revealed its first electric vehicle, the Lanzador, set to launch in 2028. Other brands like Porsche and Tesla, are also making strides in the EV market.

By 2026, Ferrari plans for 60% of its sales to come from EVs and hybrids. The luxury EV market is growing, with competitors like Lamborghini planning to release their own EVs by 2028.

The company is establishing a new production facility in Maranello, Italy, which will focus on manufacturing electric motors, battery packs and power inverters. This facility is expected to be operational within the next three to four months.

The new plant will enable Ferrari to increase its production capacity by up to one-third, to produce around 20,000 vehicles annually, up from the approximately 14,000 cars delivered in the previous year.

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Despite demand and falling prices for mass-market EVs, Ferrari is confident that the luxury segment will remain robust. The company expects its EV to cater to customers who are looking for exclusivity and performance.

The new facility in Maranello, Italy, Ferrari’s home will be crucial in the company’s transition to electric vehicles. The plant will house a new assembly line for electric, hybrid and conventional gas-powered cars, ensuring that Ferrari can meet the growing demand for its vehicles without compromising on quality or exclusivity.

The plant is expected to be fully operational by late 2024 or early 2025, in time to support the launch of the new EV.

CEO, Benedetto Vigna has promised that the EV will deliver a unique driving experience comparable to the company’s traditional combustion engine vehicles.

The new EV is expected to offer performance characteristics that are in line with Ferrari’s legacy of speed and agility.

Buyers can expect extensive customization options with the potential to add bespoke features that could increase the vehicle’s price.

This price point positions Ferrari’s EV well above other luxury electric cars like the Porsche Taycan, which starts at around $100,000.

The high price and limited production of the EV are strategic decisions to preserve this brand equity. Ferrari vehicles often have long waitlists and the new EV is expected to be no exception. This exclusivity is a status symbol for many of its customers.

Ferrari is already in the early stages of developing a second electric vehicle model. While the new plant will increase production capacity, Ferrari is careful not to dilute its brand by oversaturating the market. The company may not immediately scale up to 20,000 vehicles annually to maintain its exclusive image.

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