Ferrari is Planning On Making EVs

Ferrari is putting its eggs in the EV basket. How will that work out for the exclusive brand?
Written by Andrew Kidd
Reviewed by Kathleen Flear
Aug 3, 2022
As more automakers jump onto the electric vehicle bandwagon, there are still some holdouts—typically in the ultra-premium luxury realm.
But one premium automaker has (finally) announced its intentions to
build electric cars
, and who that is might surprise you.
Ferrari
announced earlier this year that it's pursuing electric vehicles.
As
TechCrunch
reports, Ferrari will produce its first-ever electric SUV in 2025 and aims to go carbon neutral by 2030.
As Ferrari CEO Benedetto Vigna indicated, this new electric supercar will "set the tone" for the company's future electric vehicles. 
The automaker plans for 60 percent of its sales to come from electrified vehicles—which includes hybrids and pure EVs—by 2026, and for that share to increase to 80% by 2030.

Hybrid Ferraris

The automaker already produces four hybrid vehicles, including the 1,000 horsepower Ferrari Stradale plug-in, which retails for just over half a million dollars.
Per
Automotive News Europe
, Ferrari will expand its factory in Maranello to build a production line solely for electrified vehicles. It could also include a research and development center for battery technology.
It's one of the last premium automakers to announce its intentions to electrify its lineup, with Lamborghini, Bentley, Bugatti, and McLaren among other premium automakers that beat it to the punch.

Maintaining exclusivity

As TechCrunch notes, ultra-exclusive automakers like Ferrari and Lamborghini face an uphill challenge to maintain that exclusivity while "cheapening" their lineup with battery-powered vehicles, versus the ultra-premium internal combustion engines of yore. 
The publication predicts that, instead of range, these automakers will focus on acceleration, performance, and environmental impact.
Ferrari told the media that its as-of-yet unnamed EV will stand out for its weight, sound, engine power, and the emotion it evokes from drivers while maintaining its exclusivity by delivering "one car less than the market demands," per CEO Vigna. 
Not surprising for a brand that
bans certain celebrities
like Justin Bieber, Kim Kardashian, and 50 Cent from buying its vehicles
for life
.
But electric vehicles are proving to be the great equalizer; Italian engineering doesn't matter too much when an American-made
Tesla Model S Plaid
can produce 1,020 horsepower and 1,050 lb.-ft. of torque at a fraction of the cost of whatever EV these premium automakers can put out.

What does Ferrari currently offer?

While we've got some time left before we see anything more about this Ferrari EV, it doesn't mean we can't gawk at its current rarefied offerings. 
The Italian automaker sold 11,115 supercars in 2021 in a record-setting year that shows despite an economic cooldown, the wealthy are still buying cars they could never drive on average city streets.
Ferrari's more expensive offerings include the Ferrari Daytona SP3, which starts at $2,250,000. For a more attainable Ferrari driving experience, consider the $570,000 Ferrari SF90 Spider. 
If you're looking for affordability, you can't go wrong with the $222,620 Ferrari Roma, which is currently the cheapest vehicle offered by the automaker according to
Supercars.net
.

How much does it cost to maintain and insure a Ferrari?

If you have to ask, you can't
afford
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