The best-kept secret in Maranello these days is the Ferrari EV. The first Prancing Horse without a combustion engine remains almost a complete mystery. All we know so far is that it will be built at a new factory in the company's hometown and is scheduled to come out in the last quarter of 2025. Reuters has heard from sources familiar with the matter the electric Italian stallion will cost at least €500,000.

That works out to about $537,000 at current exchange rates. However, prices vary greatly around the world due to regional taxes, so a direct conversion isn't always accurate. Whatever the case may be, the rumored asking price is for the base version, but hardly any owners buy a Ferrari with zero options. The alleged asking price converted to dollars would make it roughly as expensive as a regular SF90 Stradale, not the hardcore $890,000 XX.

Reuters' source has also heard through the grapevine that a second Ferrari EV has already entered an early development stage. After the Purosangue SUV and the first electric model, adding yet another model to the lineup might hurt exclusivity. To avoid brand dilution, it is believed the company intends to limit production to no more than 20,000 vehicles annually, at least for a while.

Sales have gone up consistently year after year, reaching 13,663 units in 2023. People are willing to patiently wait years to take delivery. Last November, CEO Benedetto Vigna mentioned that the order books were at record levels, so much so that the production output for 2025 had already been sold out. It means newly placed orders won't be fulfilled until 2026 at the earliest.

To avoid becoming an SUV brand, Ferrari has limited annual production of the Purosangue to 20 percent of the total output. The high-riding model starts at around $400,000 and would likely sell even better without any restrictions in production. With a new plant on the way, more cars will roll off the assembly line. The most exciting of the lot will be a hypercar expected to break cover later this year.

As for the inaugural EV, Ferrari head of Product Marketing Emanuele Carando recently said it'll have an "authentic sound" and will be a "true Ferrari." In 2026, the unnamed model is projected to account for about five percent of total sales. EVs are expected to represent 40 percent of all annual shipments by 2030.

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