Italian luxury automaker Ferrari is planning to produce its first electric vehicle — which will reportedly cost over $500,000. Reuters reported Wednesday citing a source familiar with the matter that Ferrari is preparing to open a plant that will produce the EV model and lift the company's output by up to one-third.
There is an increasing demand out there for Ferraris, and they have room to meet part of it without compromising exclusivity," said Fabio Caldato, a portfolio manager at AcomeA SGR which holds Ferrari shares, told Reuters. Waiting lists for some Ferrari vehicles can exceed two years and Caldato added that the list "is not getting any shorter" and that "being in the waiting list is in itself a status symbol.
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