Ferrari’s First Ever Electric Car Will Cost A LOT!

SAUDI ARABIA : No surprise here—the first electric Ferrari is set to come with a hefty price tag. The iconic sports car manufacturer's initial fully electric model is projected to exceed $500,000, according to a report by Reuters. This won't be Ferrari's sole EV for long, as another model is already under development.

Insiders have disclosed that the inaugural electric Prancing Horse will start at a minimum of €500,000, or approximately $535,000. This base price excludes the premium add-ons that Ferrari's clientele typically opt for, which can increase the total cost by 15 to 20 percent. 

This pricing strategy will position the EV as one of Ferrari's priciest core models, only surpassed by the hybrid SF90 Stradale (which starts at $525,000) and the Daytona SP3 (priced at $2.3 million).Details about Ferrari's first electric vehicle remain scarce, but it is slated to debut in late 2025. Recently, some hints have emerged, suggesting that Ferrari aims to produce a battery-powered car that provides the same exhilarating experience as its internal combustion engine (ICE) counterparts. 

Earlier this month, Emanuele Carando, the global marketing director, mentioned to the Australian media that the new EV would emit the characteristic roar that Ferrari drivers have cherished for years, although he did not specify how this would be achieved.

In recent months, several luxury sports car manufacturers, such as Aston Martin, have voiced concerns about whether their customers are ready to embrace EVs. However, Ferrari seems unperturbed by such worries. Reuters also noted that the automaker is already developing a second all-electric model. 

Information about this vehicle is minimal, as it is still in the early stages of development, but it is not expected to be produced in large quantities. Ferrari is determined to keep its annual production below 20,000 vehicles, at least for the foreseeable future.

Even as Ferrari ventures into the electric vehicle market, it remains steadfast in its commitment to producing traditional gas-powered sports cars and SUVs. Since unveiling its first hybrid road model, the LaFerrari, in 2013, the company has continued to innovate while maintaining its roots. 

Ferrari's entry into the electric vehicle market signifies a pivotal shift for the brand, but it will not come at the expense of its legendary ICE vehicles. Enthusiasts can expect the same dedication to performance and driving pleasure, whether the power comes from a roaring V-12 or a silent electric motor. 

In sum, even a Ferrari electric vehicle (as weird as it sounds on paper) will be a very promising car to ride in the future when it comes. That said, even that experience will be only for the select few, given the car’s soon-to-be absurd price tag.