Ferrari's first EV debuting Oct. 9

Ferrari will move forward with its EV plans in 2025 despite the electrification contraction at many low-volume luxury automakers.

The first electric Ferrari is set to debut on Oct. 9. Ferrari CEO Benedetto Vigna confirmed the date of the automaker’s first EV date during its Q4 and 2024 earnings results on Tuesday.

Vigna called the upcoming EV the elettrica, which is Italian for electric. Elettrica is not expected to be the EV’s name.

The EV will be one of six new Ferraris set to arrive in 2025, some of which might be electrified.

Ferrari revealed during the sales recap that 51% of vehicles sold in 2024 were hybrids. Electrification has taken hold in Maranello.

Ferrari built a new factory just for electric cars. Set at home in Maranello, the factory is known as the e-building, and it’s capable of building gas-powered engines, electric motors, battery packs, and hybrid powertrain components. Ferrari has said it can adjust the mix to meet demand.

In 2024, Reuters reported the first electric Ferrari would start at 500,000 euros, which at the time was approximately $535,000 but is now $518,828 roughly. The pricing will make it the most expensive non-limited-production model in the automaker’s lineup. Reuters reported the average Ferrari cost 350,000 euros ($363,091 approximately).

Ferrari’s first EV is expected to be a crossover SUV-like model.

It might be powered by axial-flux motors, or in-wheel motors while also featuring sound generators to mimic an exhaust system.

Ferrari hasn’t laid out its powertrain, but the automaker partnered with SK On for battery packs in 2024. Bloomberg reported in 2024 that Ferrari might offer an annual subscription for its EV battery warranty costing $7,500 per year. The subscription was said to include battery replacements after eight years.