Demand Shortfall Forces Ferrari Rethink on EV Roadmap
Ferrari has pushed back the launch of its second fully-electric vehicle to at least 2028, according to sources close to the company. The move comes amid sluggish demand for high-performance luxury EVs. Originally planned for a 2026 debut, the model’s release has now been postponed twice.
The Italian carmaker, known for its iconic petrol engines, began selling hybrid models in 2019. Ferrari will begin unveiling its first EV this October, followed by a full reveal next spring. The first model will be delivered to customers starting in October 2026.
Challenges for Electric Sports Cars
The appeal of Ferrari’s traditional roar is hard to replicate with an electric powertrain. EV batteries add weight and struggle to match the enduring performance of combustion engines—two critical issues for sports car enthusiasts.
According to one source, demand for electric sports cars is effectively “non-existent.” This lack of interest is the primary reason for the delay. Ferrari now intends to use the extra time to improve its in-house EV technology.
Internally, the company views the second EV model as a more significant step in its long-term strategy. While the first EV is a milestone product aimed at fulfilling the brand’s public commitment, the second model was intended to be a true game-changer.
Ferrari has not made any official comment on the matter.
Broader EV Setbacks in the Luxury Segment
Ferrari is not alone in scaling back its electric ambitions. Lamborghini, a subsidiary of Volkswagen, delayed its first electric model from 2028 to 2029. Porsche also reduced its EV plans due to weak demand for models like the electric Macan SUV and Taycan.
Maserati, owned by Stellantis, cancelled plans for an electric version of its MC20 sports car earlier this year.
Ferrari’s first electric model, designed in collaboration with former Apple Chief Design Officer Jony Ive, is expected to cost over $500,000. One source noted that this vehicle would be larger than a typical Ferrari, but would not be an SUV.
The second EV model, in contrast, is aligned with Ferrari’s usual production strategy: about 5,000 to 6,000 units over five years. However, current market conditions make such volumes unrealistic.
Ferrari will unveil its new long-term business strategy to investors on 9 October.
with inputs from Reuters