Ferrari’s ₹4.5 Crore First Electric Vehicle

The well-known luxury automaker Ferrari is getting ready to introduce its first fully electric car (EV), which would start at least €500,000 (about ₹4.5 crore).

Ferrari’s pricing approach demonstrates its confidence in its affluent clientele’s acceptance of the new model.

The corporation is preparing for the debut by erecting a new production plant in Maranello, Italy, and intends to unveil this electric vehicle in late 2025.

New facility to boost production capacity

This month, the new Maranello facility is scheduled to open, producing power inverters, battery packs, and electric motors.

By increasing production capacity by up to a third, the company hopes to be able to produce about 20,000 cars a year.

Compared to the less than 14,000 vehicles Ferrari delivered in 2023, this is a considerable increase.

The new vehicle will provide drivers with a “unique” experience, similar to Ferrari’s classic combustion engine-powered versions, CEO Benedetto Vigna promised.

Ferrari’s ambitious plans for electric and hybrid cars

Ferrari is putting itself in a position to take a sizable chunk of the market for high-performance electric supercars.

By 2026, the business expects 60% of its models to be a combination of fully electric and hybrid vehicles.

Ferrari’s electric vehicle is quoted at a price that excludes further equipment and customisations, which can raise the price by as much as 15% to 20%.

Analysts’ predictions for Ferrari’s new EV

Experts forecast that Ferrari’s new EV would make up little more than 10% of company sales each year because to its high price and the decline in EV sales, particularly for premium EVs.

This label, though, will protect Ferrari’s profit margins in the face of expensive new electric technology development and growing reliance on third-party parts.

It is predicted that the factory will be up and running in three to four months.

Ferrari is also in the early stages of designing a second electric vehicle.

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