Ferrari has been preparing to open a new plant. In three to four months, the factory should be fully operational. It will be able to produce a range of vehicle models, including ICE, hybrids, and even fully electric cars.
Before options, the brand’s first electric vehicle is anticipated to cost more than $500,000, or roughly Rs 4.17 crore. Although the sum may not seem like much, bear in mind that the starting rates for Porosangue are Rs 3.32 crore ($398,350) in the USA and Rs 10.5 crore ($11,500) in India. The higher cost is a result of the high tariffs placed on imported luxury cars.
The EV is expected to be revealed later next year and leaked patents suggest that it is a four-wheel-drive two-seater that would feature an electric motor on each wheel. Ferrari is also working on its second EV, which is under development.
The new factory, located in Maranello, northern Italy, will help boost production to an estimated 20,000 units a year, which could help bring down waiting periods.
According to Fabio Caldato, a portfolio manager at AcomeA SGR, which holds Ferrari shares, “Being in the waiting list is in itself a status symbol,”. He particularly noted an increase in potential wealthy customers in emerging markets, such as India and the Middle East.
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