Ferrari set to release luxury electric car priced over $500,000
- Ferrari is venturing into the electric vehicle market with a luxury car costing more than $500,000.
- Despite concerns about demand, the renowned Italian automaker is pushing forward with its EV plans.
- The extravagant pricing of Ferrari's first electric vehicle highlights the brand's commitment to innovation and exclusivity.
Ferrari is planning to launch an electric vehicle priced at over $500,000, targeting wealthy consumers despite the high cost and lack of charging infrastructure for EVs. The luxury Italian carmaker aims to tap into the market for clean energy vehicles, with most EV purchasers being higher-income individuals. Ferrari is set to open a plant in Maranello, Italy, dedicated to manufacturing the electric model alongside petrol and hybrid vehicles. The company's CEO, Benedetto Vigna, emphasizes the unique experience that their forthcoming EVs will offer to customers. This move reflects Ferrari's commitment to the luxury electric vehicle market, with plans for EVs to account for 40% of its lineup by the end of the decade. The new electric model will be one of the most expensive in Ferrari's lineup, showcasing the brand's shift towards sustainable mobility while maintaining its luxury status.