Ferrari's First EV Will Make The 12Cilindri Seem Like A Bargain

Key Takeaways

First-ever electric Ferrari to cost over $535,000 before options.
Second EV in early development, might have practical slant like Ferrari Purosangue.
Overall Ferrari production to increase, but EVs will make up a tiny fraction of the total.

If rumors are to be believed, the first-ever electric Ferrari will cost “at least €500,000 ($535,000).” The scandalous figure comes courtesy of an insider speaking with Reuters, who says that part of the reason for the high price is to maintain exclusivity. Another reason is that developing an EV for the first time – particularly one that must remind us of any other Prancing Horse in Maranello’s stable yet simultaneously remain unique – is expensive, and a greater-than-usual number of the components will likely be outsourced. Ferrari buyers usually add options worth another 15-20% of their supercar’s value, so expect the average Ferrari EV to be on the dark side of $650,000. For the record, the newly unveiled 12Cilindri is expected to cost under $500,000 – even in Spider form.

Ferrari

Ferrari is an Italian manufacturer of sports cars, supercars, and luxury grand tourers founded by and named after Enzo Ferrari in 1939 – originally as Auto Avio Costruzioni due to legal complications with Alfa Romeo. Ferrari famously only produced roadgoing sports cars as a means of funding its racing exploits, which include multiple F1 World Championships and wins at Le Mans and various other prestigious races. Today, Ferrari is one of the most valuable brand names in the world, limiting production of its highly-sought-after models to maintain desirability, which is in no short supply when they’re powered by some of the world’s most advanced V6, V8, and V12 engines.

Founded: 1939 (as Auto Avio Costruzioni)
Founder: Enzo Ferrari
Headquarters: Maranello, Italy
Owned By: Publically Traded
Current CEO: Benedetto Vigna

Another EV Is In The Early Stages

Ferrari has kept the wraps on its first EV tightly under wraps, so much so that we can’t even be sure of the body style. However, the same source says that a second EV is in the early stages of development, and there’s a strong possibility that one of them could have a practical slant, like the Ferrari Purosangue. The way Ferrari handled the so-called FUV is worthy of praise, from the design and execution to the production numbers, and Maranello would adopt the same strategy for whatever sort of EV it produces.

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In fact, the insider says that despite a new factory being inaugurated, allowing production to rise from under 14,000 cars last year to as high as 20,000 vehicles per annum, Ferrari would not compromise exclusivity and would hold back on increasing production until it felt the time was right. That number is intentionally high to allow flexibility for years to come. “I expect the new EV to be a niche model, accounting for just over 10% of annual sales,” confirmed Andrea Balloni, an analyst at Mediobanca. Ultimately, no individual Ferrari model will ever be commonplace, and Maranello will only increase production to produce more variants, not more volume of existing models.

Ferrari EV Expected To Be A Tech Tour de Force

Ferrari has already said that it is only pursuing an electric car because it presents a unique opportunity to do things not possible with a combustion car, and given the number of EV-related patents Ferrari has filed in recent months, we suspect the EV will be able to fully justify its stratospheric price, even as demand for EVs cools in all markets. We know the sound it will make will be “authentic,” with aerodynamic and other tricks to be employed to generate sound. This marks a stark contrast from EVs that pump fake engine noises into the cabin, and Ferrari is aware of how cheap that experience can feel. With an insider finally revealing some real details about the electric Fezza, Maranello is surely confident in whatever it is creating.