Ferrari's First EV is Closer and Pricier Than You Think!

Ferrari is working on an electric car, and it won't be cheap! I know we love the roaring Ferraris with their sweet combustion sound and sleek looks. But the electric transition is here, and it has reached Ferrari, too. According to a Reuters report, they are now making an electric car that might cost more than 4.46 Crores (500,000 euros). This is slated to be the starting price, without including any personalised touches. As per the CEO Benedetto Vigna, Ferrari will show off its first EV sports car by the end of the year.

Special Building for EVs

Ferrari has made a completely fresh 42,500 sqm facility in its Maranello factory that they plan to use for their ICE cars, hybrids and their first EV. While being called the E-building, Ferrari has claimed that this stands for 'energy, evolution and environment' and not electric, which you would assume. It will be used for production from January 2025, and the first models coming out of it will be the Purosangue and the SF90. The exciting news is that High-voltage batteries, electric motors and axles, which Ferrari called "strategic electric components that are highly relevant to differentiating Ferrari's technology and performance", will be assembled in this building. 

Not 1 but 2 EVs

If you are an EV lover (Are there any?), rejoice because there is double good news. Ferrari is also developing a second EV, but the process is still in its early stages. That being said, Ferrari also claimed they might not want to increase the total production to 20,000 cars annually for at least the short term. In an address to the shareholders, Ferrari CEO Benedetto Vigna said that the plant would assure them of flexibility and technical capacity in excess of their needs for years to come. He further added that the increase in output would come with the increase in models, like how Ferrari has always kept the output of models capped to a limit irrespective of its success. Ferrari aims for a 60% share of EVs and hybrids in sales by 2026. 

Did you ever imagine seeing a Ferrari EV?

To read more such updates, click here.