Ferrari is about to launch its electric car, which will cost more than €500,000.
The new model will be launched next year by the luxury Italian brand best known for its petrol sports cars that have roaring engines.
According to Reuters, it will be the most expensive model in the line-up. The headline price does not include extras, which can add as much as 20pc to final costs.
The higher cost of battery-powered electric vehicles would put this car at the top of the range of what the manufacturer is currently offering.
The average price of a brand new Ferrari is around €350.000.
The SF90 Spider retails for around $575,000. (£452,000). Special series SF90XX Stradale, and SF90XX Spider are even more expensive at $844,000. and $922,000 respectively.
Ferrari has also been said to be developing a second model that is electric.
This move is seen as a vote in confidence for the luxury electric car (EV) industry, especially at a moment when other brands like Porsche and Aston Martin are warning about consumer enthusiasm for electric vehicles.
Lawrence Stroll, Aston Martin’s billionaire chairman and owner, warned previously that many drivers wanted to “experience the sports car feel, sound and smell”.
Ferrari has developed a technology to preserve the signature sound of its engines after they are electrified.
According to documents filed last year, the technology will amplify sounds coming from the electric motor or drivetrain. It will adjust the volume and note to correspond with the amount of power delivered.
The carmaker wants to have 40pc electric vehicles in its lineup by the end of the decade.
Ferrari is currently preparing to build its first electric cars in a new factory.
The factory will be located in Maranello in Emilia-Romagna in Italy, where the company is based. It will produce both petrol and hybrid vehicles.
The company is expected to increase its annual production capacity from 14,000 to 20,000 vehicles.
Sources told Reuters that the opening was likely to be delayed by three to four months.
Lamborghini, a rival brand, is preparing its first EV for sale in 2028.
Ferrari’s first EV is not the most expensive electric vehicle yet, even though it is more expensive than mass market models.
Aspark, a Japanese engineering company, is developing the Aspark Owl Hypercar. It will cost $3.5m with a top speed up to 272 miles.
The Lotus Evija costs more than £2m while the Croatian Rimac Nevera begins at €2m.
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