Ferrari sets price for first electric car at around $823,000
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The steering assembly of the Luce, Ferrari’s first fully electric supercar, is seen in this undated handout image.
PHOTO: REUTERS
MARANELLO, Italy – Ferrari has settled on a preliminary price of about €550,000 (S$823,000) for its first fully electric supercar ahead of the model’s premiere in Rome in May, according to people familiar with the matter.
The pricing would put the new Luce above the Italian automaker’s Purosangue sport-utility vehicle, which starts at about €450,000.
The final pricing may still be adjusted by 10 per cent in either direction, the people said, asking not to be identified discussing confidential information. Ferrari declined to comment.
The decision underscores Ferrari’s effort to position its first battery-powered model at the top end of its lineup.
Chief executive Benedetto Vigna has been trying to keep prices high to protect the brand’s appeal with the super rich as he pursues “value over volume”.
The Luce is a key test of this strategy, particularly with EV residual values still a concern among rich buyers seeking supercars that will hold or even increase their value over time.
Ferrari has said it wants to give clients freedom of choice across internal-combustion, hybrid and electric drivetrains, as long as the driving performance that defines the brand is preserved.
The Purosangue has become one of Ferrari’s most important models since its debut, broadening the company’s customer base beyond traditional two-seater sports cars and helping lift average selling prices.
Ferrari has capped output of the model at about 20 per cent of annual production to preserve exclusivity.
Ferrari shares are roughly flat this year in Milan, having dropped on the back of the conflict in the Middle East. The manufacturer temporarily suspended in March most shipments to the region, a key luxury hub. BLOOMBERG
