The Ferrari EV seems to be the best-kept secret in the car industry for the past few months. At first, they said they wouldn't do it. Then, three years ago, they changed their minds. Now, they are inches away from rolling out their first EV. And it is not going to be cheap.
Three years ago, the Ferrari CEO finally confirmed that the brand is going to have an EV in its portfolio. Arriving late at the EV party, they are counting on making up for the lost time with a car like no other. The first Ferrari without a combustion engine will hit the market in the final quarter of 2025 and will roll off the production line of a new factory that will be built in Maranello, Italy.
The new production center will have a capacity of up to 20,000 examples per year and will be able to boost the productivity of the automaker by a third.
However, we have yet to see if the EV, which is yet unnamed, is going to be a limited run, as Ferrari might be interested in holding on to exclusivity. The price is going to help them do it.
Reuters reports that the first-ever electric Ferrari is going to cost at least half a million euros, according to a source familiar with the matter. That would be around $537,000 at the current exchange rates.
That is also where optioning and customizing the model would start. Customers are usually invited to Maranello to spec their cars as prices of the extras rise depending on their requests.
Photo: Ferrari will roll out its first EV in 2025
A price set that high confirms Ferrari's trust in its loyal clientele of wealthy enthusiasts, ready to go green in the name of exclusivity. The move would come amid carmakers slowing down on EV development and slashing prices of electric cars in an attempt to remain competitive in the market.
An EV for a brand famous for its roaring V12s and V8s is, indeed, a bold move. However, Ferrari has already won the FUV (Ferrari Utility Vehicle) bet with the Purosangue, launched back in 2022.
The sports carmaker has been trying to set the Purosangue apart from the players in the SUV segment, no matter how select they are. That is happening despite the fact that it is – unlike any Ferrari before – a model with a high ground clearance (185 millimeters or 7.3 inches), four doors, and four or five seats, depending on the configuration selected by the owner.
With the demand growing, the waiting lists extend up to two years. But with the new production line in Maranello, the waiting time is expected to shorten.
The new plant, which should be fully operational before the end of 2024, should be where Ferrari will also build a second EV, which is reportedly in development already, as reported by Reuters,
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