Ferrari plans to launch its first electric car, priced at €500,000 ($536,567), in late 2025.

Ferrari plans to launch its first electric car, with a price tag of at least €500,000 ($536,567), in late 2025. The Italian luxury automaker is set to manufacture the EV at a new plant in Maranello, Italy, which will eventually increase production capacity to around 20,000 vehicles from fewer than 14,000 cars delivered last year. The new electric vehicle (EV) is expected to be more expensive than rivals such as Porsche's electric Taycan.