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Reading: First Ferrari EV to cost more than $500K, source says
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EV-a2z > News > First Ferrari EV to cost more than $500K, source says
News

First Ferrari EV to cost more than $500K, source says

EV-a2zm
Last updated: 2024/06/20 at 9:08 PM
EV-a2zm Published June 20, 2024 4 Min Read
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Ferrari SF90 Stradale Plug-In Hybrid electric sports car showcased at the Paris Motor Show, France - October 17, 2022.
Ferrari SF90 Stradale Plug-In Hybrid electric sports car showcased at the Paris Motor Show, France - October 17, 2022.
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Iconic Italian automaker Ferrari is gearing up to deliver its promised electric sports car to the market next year amid the global shift to clean energy vehicles.

Contents
Ferrari’s debut EV carries a hefty price tagWhat to expect from Ferrari’s first EV?Production timeline and EV targets

However, the speculated price tag may take you back – €500,000 ($535,000).

Ferrari's $RACE first electric car will reportedly cost at least $535,000 – Reuters pic.twitter.com/oJO3IdDoJW

— Evan (@StockMKTNewz) June 19, 2024

Ferrari’s debut EV carries a hefty price tag

Ferrari’s inaugural electric car offering will sell at a jaw-dropping price of at least €500,000 ($535,000), Reuters reports, citing a source familiar with the matter.

This hefty price tag does not yet include extra features that tend to ass 15% to 20% to the total cost, further exceeding the average sale price of approximately €350,000. For comparison, Porsche’s Taycan EV only starts at about €350,000.

Ferrari’s first electric car to cost more than €500,000 https://t.co/CFavdfwHxl pic.twitter.com/L3SJPQIH1D

— My Break News_EN (@MyBreakNews_en) June 19, 2024

Ferrari is reportedly preparing to launch a dedicated factory to produce the electric car, potentially ramping up group production by up to a third.

The first Ferrari electric car model will officially launch in late 2025, with the speculated price tag demonstrating the iconic brand’s conviction that rich customers are ready for such a shift.

However, the upcoming Ferrari EV will undoubtedly face a major challenge. Many electric automakers resort to price cuts to boost sales amid slower-than-expected adoption.

Ferrari’s first EV to exceed $500,000, coming next year

Ferrari, known for its high-end fuel-powered sports cars, has earlier said that their first Electric Vehicle will be coming by next year, with a new report from Reuters citing sources familiar with the matter revealing a… pic.twitter.com/iRIlWmt3Hv

— Al Bawaba News (@AlBawabaEnglish) June 19, 2024

What to expect from Ferrari’s first EV?

Ferrari Product Marketing and Marketing Intelligence Director Emanuele Carando recently teased in an interview with Australian Drive magazine that the debut model will have an “authentic” sound rather than just an engine roar.

“I think you need to wait a little bit longer. But I can tell you the new electric Ferrari vehicle is going to be a true Ferrari. All our cars are different cars for different Ferraristi, and different Ferrari for different moments. So the new electric vehicle will deliver different emotions versus the SF90, versus the Purosangue, versus the Roma, or versus the 12Cilindri.”

Emanuele Carando, Ferrari Product Marketing and Marketing Intelligence Director

Given the lack of combustion engines in EVs, the noise of Ferrari’s promised electric sports car remains unclear.

Benedetto Vigna declares that Ferrari's EV will not go quietly into the night like other electric cars. Power and noise – that's the Ferrari experience! #FerrariEV #BreakingTheSilence 🏎️⚡🔊 pic.twitter.com/yrG7g2wixw

— Artire Automotive (@Ardriftclub) March 20, 2024

In addition, Ferrari asserted that the upcoming EV will not solely rely on acceleration. It outlined plans to heavily consider key factors like “driving thrills, which is a combination of power, force, weight, brakes [and] sound.”

“The 0-100km/h, 0-200km/h, after you do [these] a couple of times … you got this gut into your mouth [feeling], you’re fed up with it. We want to have a fast, agile, fun car to drive.”

Emanuele Carando, Ferrari Product Marketing and Marketing Intelligence Director

Production timeline and EV targets

Ferrari plans to commence the production of its first electric car offering in its new factory in Maranello, Italy, in 2025.

Excitingly, Ferrari is also already developing a second electric car model. The unnamed source claims the process is currently “at an early stage.”

The Italian automaker expects EVs to account for at least 5% of its overall vehicle sales by 2026, marking its first full year in the electric vehicle space.

By 2030, it aims to increase the share of its electric and hybrid modes to 40% of its overall annual vehicle sales.

This major pivot to electric propulsion will substantially redefine the Ferrari experience while still preserving the brand’s iconic legacy.

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TAGGED: Electric Vehicle, EV, ferrari, Italy
EV-a2zm June 20, 2024 June 20, 2024
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