Ferrari's First Electric Car Price & Launch Details: Ferrari's first electric car will cost at least 500,000 euros (approximately $535,000/INR 4.46 Crore) in Italy, a source familiar with the matter told Reuters, as the luxury automaker prepares to open a plant that will make the model - and could boost group production by up to a third.


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Launching Next Year
The Italian brand, famed for its roaring petrol engines, has said it will launch an electric car late next year, and the planned price shows its confidence that ultra-wealthy drivers are ready for it, even as mass-market rivals are slashing electric vehicle (EV) prices amid faltering demand globally. 


Price Tag
The price tag, which doesn't include features and personal touches that typically add 15-20%, is well above the average sale price of around 350,000 euros, including extras, for a Ferrari in the first quarter of this year, and many rival luxury EVs. However, if it comes to India the price will be even higher due to taxation.


Ferrari did not respond to a request for comment about the price of its first EV, or its new plant which is due to be inaugurated in its hometown of Maranello, northern Italy, on Friday.


New Factory In Maranello
The factory - or e-building - is a bold move for the company, which delivered fewer than 14,000 cars last year, as it will eventually allow production capacity to rise to around 20,000, the source told Reuters, speaking on condition of anonymity.


The new factory in Maranello will give Ferrari an additional vehicle assembly line, and will make petrol and hybrid cars as well as the new EV, plus components for hybrids and EVs. It will be fully operational in three to four months, the source said.


Second EV Model
A second EV model is also under development, the source said, adding the process was at an early stage, and that the company might not want to increase overall production to 20,000 vehicles per year, at least in the short term.