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Despite global pressure on electric vehicle (EV) manufacturers to boost sluggish sales by lowering prices, Ferrari plans to price its first electric car, set to launch late next year, at an eye-watering €500,000 ($535,000) or more.

A recent report from The Economic Times (ET) suggests that US-based global electric vehicle (EV) giant Tesla has forged a strategic agreement with Tata Group’s subsidiary, Tata Electronics, to procure semiconductor chips for its operations worldwide.