By Giulio Piovaccari

MILAN (Reuters) – Italian electric-vehicle startup Aehra on Friday unveiled its new, European-made sedan which will serve the high-premium market segment and which joins the firm’s sport-utility vehicle which was first displayed late last year.

Both models will start production in 2026, Aehra said. They will be priced in the 160,000 to 180,000 euros range ($175,000 to $197,000), placing them in what Aehra’s co-founder and CEO, Hazim Nada, termed the “high premium and luxury” segment.

“When it comes to that segment, people are not yet ready for Chinese or American brands. Europe is still the reference,” Nada, a 40-year-old Italian-American, told Reuters.

The new sedan follows Aehra’s electric SUV which was unveiled in November 2022. Both will have a top speed of 265 kmph and a range of more than 800 km, Aehra said.

First deliveries are expected in 2026, beginning in key markets including the U.S., Italy, Germany and the United Kingdom. Aehra plans to open preorders next year.

Nada said full-scale production should occur in late 2027, with an annual production target of 25,000 vehicles for each model.

Both vehicles are so-called native EVs, which means most of the design is a new development and not based on a previous internal-combustion platform.

Aehra, whose chief design officer and chief engineer were formerly at Lamborghini and Ferrari, respectively, has said it plans a total investment of 750 million euros.

Aehra is still assessing options for assembly. The preferred one, at least in the short term, is to rely on a large contract manufacturer, either in central or northern Europe, Nada said.

Another option is to start a new facility in Italy or buy and refurbish an existing one, but that would be possible only if backed by state funds, Nada said.

“We see a decision on this around the end of this year.”

Aehra is working on its supply chain, and recently clinched a deal with Austria’s Miba Battery Systems for 120 KWh custom NMC (nickel manganese cobalt) batteries, Nada said.

($1 = 0.9264 euro)

(Reporting by Giulio Piovaccari in Milan; Editing by Matthew Lewis)