Ferrari is forging ahead with its electric vehicle (EV) plans for 2025, despite the slowdown in electrification efforts among many low-volume luxury car manufacturers.
The highly anticipated debut of Ferrari’s first electric vehicle is scheduled for October 9. During the Q4 and 2024 earnings announcement, Ferrari CEO Benedetto Vigna confirmed the launch date of the automaker’s inaugural EV.
Referred to as the “elettrica,” which means electric in Italian, the upcoming EV is poised to make a significant impact. However, it’s worth noting that “elettrica” is not expected to be the official name of the EV.
In 2025, Ferrari will introduce a total of six new models, some of which are likely to feature electrified powertrains.
Ferrari disclosed that 51% of its vehicle sales in 2024 were hybrid models, signaling a clear shift towards electrification in Maranello.
Ferrari e-building
Ferrari has invested in a state-of-the-art factory dedicated to electric vehicles, known as “the e-building,” located in Maranello. This facility is equipped to produce traditional internal combustion engines, electric motors, battery packs, and hybrid powertrain components. The production mix can be adjusted based on market demand.
Reports suggest that the starting price for Ferrari’s first electric vehicle will be around 500,000 euros, making it the priciest non-limited production model in the company’s portfolio. The average cost of a Ferrari vehicle in 2024 was 350,000 euros.
The upcoming EV from Ferrari is anticipated to be a crossover SUV-type model, potentially featuring axial-flux motors or in-wheel motors along with sound generators to replicate the exhaust note.
Although specific details about the powertrain have not been disclosed, Ferrari entered a partnership with SK On for battery packs in 2024. There are suggestions that Ferrari might introduce an annual subscription service for the EV battery warranty, priced at $7,500 per year, inclusive of battery replacements after eight years.