Ferrari’s High-Voltage Shift: Iconic Brand to Unveil First EV at Half a Million Price Tag

Ferrari is set to unveil its inaugural electric vehicle, with a price tag north of $500,000. Despite being staunchly opposed to electric cars just ten years prior, the renowned manufacturer, famous for its roaring petrol engines, has dedicated the past few years to developing an EV, aiming for a grand reveal in the latter part of 2025.

Sources have informed Reuters that the anticipated cost for the new Ferrari model will commence at the upper tier of their pricing range, with initial figures estimated at 500,000 euros, which is roughly equivalent to $535,000.

This will result in a higher price tag than Ferrari's most expensive regular models, the SF90 Stradale supercar and the Purosangue SUV. Furthermore, the cost will significantly surpass the average selling price of a Ferrari, which Reuters reported to be around 350,000 euros, with options included, in the first quarter of 2024.

If this information holds true, it suggests that Ferrari isn't planning to use competitive pricing as a lure to convince customers to switch from the emotive roar of its traditional petrol engines. Rather, it could focus on providing cutting-edge features such as axial-flux motors, motors integrated into the wheels, and devices that create artificial engine noises.

Ferrari's All-New Model

Ferrari has not disclosed the design of its upcoming vehicle, but speculation suggests it could resemble the Purosangue more than the company's typical high-performance models. A source told Reuters that Ferrari is also working on another electric vehicle, though it's currently in the preliminary phases of development.

CEO Benedetto Vigna has announced that Ferrari's future electric vehicles will be assembled in a fresh facility, dubbed the “e-building.” This new production site is situated right next to the existing factory at their Maranello base. The facility is slated to begin operations within the week, initially focusing on manufacturing certain gasoline vehicles while also producing electric motors, inverters, and batteries for plug-in hybrid systems. However, large-scale production of fully electric models is not anticipated to kick off until the beginning of 2026.

Manufacturing facility for Ferrari located in Maranello, Italy.

Following the strategy it has employed with gas engines, Ferrari plans to engineer its own electric motors, inverters, and batteries, targeting top-notch power and weight efficiency in the sector.

The car manufacturer plans to collaborate with associates in various sectors, including the top battery provider SK On. They currently have an agreement for SK On to supply batteries for Ferrari's current range of plug-in hybrid vehicles. Furthermore, in March, they declared their intention to investigate new opportunities within the realm of battery cell innovation.

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