Ferrari electric models coming, first to cost a million dollars – report

Two electric vehicles are currently under development by Ferrari, and the first – set to launch in late 2025 – is said to carry a hefty price tag.

Italian supercar brand Ferrari is working on two electric vehicles – the first not to be powered by petrol in the company’s history.

According to a report from news outlet Reuters, a company insider says the first electric Ferrari will cost approximately €500,000 – with an expected price tag of approximately $AU1 million once it lands in Australian showrooms.

Personal customisation – which allows owners to choose from hundreds of variations on materials, colours, and optional equipment – is said to typically add a further 15 to 20 per cent to the price.

While Ferrari has said it will launch an electric car in late 2026, no further details have been confirmed at this early stage.

Earlier this month, executives from the brand told Australian media the electric car will emit an “authentic” noise.

MORE: Ferrari phasing out key feature standard in Toyota, Ford, Hyundai, Kia cars

The company is reportedly set to open its new plant in Maranello, Italy, this Friday – producing electric vehicles alongside petrol and hybrid models – which will help boost production from 14,000 to 20,000 annually.

The anonymous company insider revealed Ferrari was also working on a second electric vehicle, however, development is still in its infancy.

Analysts told Reuters they believe the first electric vehicle will be niche and limited in production – with the high price helping to pay for development costs and externally-supplied parts, as well as keeping the model exclusive.

The company source said while Ferrari’s overall annual output is expected to rise, models within its line-up will remain limited to low production numbers.

However, despite the introduction of electric vehicles, as reported by Drive earlier this month, Ferrari has said it will continue to offer V12 engines right up until the point they are banned by authorities.

The post Ferrari electric models coming, first to cost a million dollars – report appeared first on Drive.

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