Soon, Ferrari will release its first all-electric model. Ferrari is getting ready to release its first electric sports vehicle, but it will cost a lot of money. More than $500,000 (or 500,000 euros) will be spent on the first Ferrari electric sports vehicle. This is what to anticipate.

Over $500K will be spent on the first Ferrari electric sports vehicle:

Going completely electric is that cherry red Ferrari that always attracts attention when it drives by. By year’s end, Ferrari plans to unveil its first electric sports vehicle, according to CEO Benedetto Vigna.

After a “big-big step forward” towards the end of the previous year, Ferrari is ahead of schedule. It is planned for the electric sports car to be on sale in 2025 during the fourth quarter.

The first electric vehicle from the Italian luxury sports car manufacturer, Ferrari, will cost more than usual. Sources with knowledge of the situation claim that the first Ferrari electric sports vehicle would set you back at least $535,000 (500,000 euros).

Additionally, the sources informed Reuters that a second electric Ferrari is being developed. Ferrari’s second electric vehicle is expected to increase output at its e-building, despite its early stages.

The sources claim that facility output is expected to reach about 20,000 automobiles, up from less than 14,000 vehicles produced in the previous year.

For the next EVs and hybrids, the factory will produce batteries, inverters, and electric motors. It will involve assembly as well.

In an effort to electrify its lineup, Ferrari introduced the SF90 Stradale, its first plug-in hybrid (PHEV) vehicle for series production, last year. Ferrari wants to sell 60% electric or hybrid vehicles by 2026.

The first electric Ferrari will set you back over $535,000 (500,000 euros), which is much more than the average luxury EV selling price of about $375,000 (350,000 euros).

In the meantime, rival Lamborghini unveiled the Lanzador EV, its first fully electric vehicle, in August of last year. It is expected that the sleek 2+2 electric GT would go on sale in 2028. The Hurcan and Urus PHEVs, which are being introduced this year, are igniting the entire Lamborghini lineup.

Even though other competitors are lowering costs, Ferrari’s high price tag demonstrates its trust in its product. For instance, the brand’s newest street-legal vehicle, the 1,092 horsepower Porsche Taycan Turbo GT, has a starting price of $230,000.

Starting at a modest $87,990, the 1,020 horsepower Tesla Model S Plaid was being tested by Ferrari earlier this year. There are a number of new electric sports vehicles expected to join the market by 2026 or 2028 (at a considerably cheaper price).

For instance, BYD debuted the Yangwang U9, its first electric sports vehicle, this year. The Yangwang U9 from BYD has a starting price of $233,400 (1,680,000 yuan) and can reach 62 mph in 2.36 seconds.

Will it matter that so many new EV brands-with sharper looks and even greater performance-are entering the market, despite the fact that Ferrari and Lamborghini are recognized for their legendary designs and performance?

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