ALBAWABA – Ferrari, known for its high-end fuel-powered sports cars, has earlier said that their first Electric Vehicle will be coming by next year, with a new report from Reuters citing sources familiar with the matter revealing a hefty price tag of 500,000 euros ($535,000).
The reported price does not encompass options and personal features, which normally add 15-20% to the total cost, and is significantly higher than the average selling price of roughly 350,000 euros, including extras for a Ferrari in the first quarter of this year, as well as the price tag of many competing premium electric vehicles.
The Italian luxury automobile manufacturer is getting ready to establish a factory that will produce the new model. This plant has the potential to increase group output by as much as a third, which would enable production capacity to increase to almost 20,000 vehicles, Reuters reports, in comparison to the less than 14,000 automobiles that the company delivered in the previous year.
“There is an increasing demand out there for Ferraris, and they have room to meet part of it without compromising exclusivity,” Fabio Caldato, a portfolio manager at AcomeA SGR, which holds Ferrari shares, said in citation by Reuters in comment of the higher output effect on Ferraris’ exclusivity, which is known to set the brand apart from competition.
The source said that the new facility would provide Ferrari with an extra vehicle assembly line, which will also produce gasoline and hybrid automobiles in addition to the new electric vehicle, as well as components for hybrids and EVs. The plant is expected to be completely operational within three to four months located in Maranello.
