July 15, 2024

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Ferrari First EV Car Coming Next Year, Will Cost Above USD 5,35,000: Report

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New Delhi, June 20: Italian luxury sports car brand Ferrari has yet to announce its first electric car to the world. Other luxury brands, such as BMW and Audi, have already introduced their EVs to the market. However, the sports car segment has yet to see some new models. According to a report, the Ferrari’s first EV would cost over €5,00,000. 

According to a report by Reuters, according to a source, Ferrari’s first electric car would cost over €5,00,000 (around $5,35,000). The report said that the Italian luxury sports car maker had been planning to introduce its new electric vehicle in the market. It said Ferrari had been preparing to open a plant to produce an electric car, and the company could also boost group production by up to a third. Citroen C3 Aircross ‘Dhoni Edition’ Launched in India; Know Price, Specifications and Features of Limited Edition SUV From Citroen.

Reuters said Ferrari was informed that it would launch its first EV next year and was confident that the ultra-rich community would be ready to buy its new model. The report mentioned an announcement made by an Italian luxury sports car maker when the existing rivals cut the prices of their models in the mass market due to the slow demand.

The report mentioned that the price tag would be well above the sale price of around €5,00,000, which might include extra for the sports car maker in the first quarter of 2024, especially when other brands are rivalling their EVs in the market. The report highlighted Porsche’s Tycan electric car, which starts at around €1,00,000. Chinese EV Maker BYD To Enter South Korean Market in Low-Cost Segment.

Ferrari’s new plant will be inaugurated in Maranello, northern Italy. The report mentioned that demand for Ferrari has been increasing in the market, with customers waiting up to two years for some models. The report said that the new factory in Maranello would help the company build petrol and hybrid cars and new EVs. The sources reportedly said that after Ferrari’s first EV, a second, which had also been in development, would be announced. 

(The above story first appeared on LatestLY on Jun 20, 2024 05:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

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