Ferrari Hits The Brakes On Second EV, Delays Launch To 2028 Amid Lukewarm Demand

Ferrari has reportedly delayed the launch of its second all-electric vehicle to 2028 or later, citing tepid demand for high-performance electric sports cars. According to Reuters, sources familiar with the matter said the model was originally planned for a 2026 release but has now been pushed back as interest in luxury EVs remains underwhelming.

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The Italian automaker, known for its roaring V8 and V12 engines, still plans to unveil its first electric vehicle in October 2023, with customer deliveries expected to start by late 2026. However, unlike the first EV, described as a low-volume, symbolic model with a reported price tag of over $500,000, the second electric Ferrari is seen as a cornerstone of the company’s long-term EV strategy.

This decision mirrors a broader trend across the luxury automotive sector. Other premium brands, such as Lamborghini and Maserati, have also scaled back or delayed their electric vehicle ambitions. Reuters’ report notes that Lamborghini has postponed its first EV to 2029, while Maserati recently shelved its planned electric version of the MC20 sports car.

Ferrari’s postponement gives the company more time to refine its in-house electric technology and assess market readiness. One insider told Reuters that sustainable demand for electric sports cars is still “virtually non-existent,” raising questions about the timing and scale of EV investments in the supercar segment.

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The company is expected to outline its updated strategy during a business presentation to investors on October 9, 2023. As the global car industry navigates a slow and uneven shift toward electrification, Ferrari appears to be taking a cautious but deliberate approach.

(Source: Reuters)