Ferrari has postponed the release of its second electric vehicle (EV) to at least 2028 due to weak demand for high-performance luxury EVs, reported Reuters, citing two sources close to the matter.
This decision comes despite the company’s ongoing efforts to transition into the electric market, with its first EV set to be unveiled in October this year and customer deliveries expected in October 2026.
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The shift to electric has presented challenges for sports car manufacturers, as the absence of the traditional engine roar and the weight and power limitations of EV batteries have not resonated with the target market.
According to sources, this has led to “non-existent” sustainable demand for electric sports cars, prompting Ferrari to delay its second EV model, initially planned for late 2026.
Ferrari has remained silent on this development, while the sources, who requested anonymity, indicated that the delay would also allow Ferrari to enhance its in-house technology for the upcoming electric vehicle.
Despite the delay, Ferrari’s long-term strategy still includes the sale of EVs, although no plans beyond the first EV have been publicly disclosed.
Lamborghini will now introduce its first electric model in 2029, and Porsche has scaled back its EV plans following tepid sales of its electric Macan SUV and Taycan models.
Additionally, Maserati has scrapped plans for an electric version of its MC20 sports car.
Ferrari’s second EV model has now seen its launch pushed back twice.
The first model, co-designed by Jony Ive, is priced over $500,000 and is considered an atypical, low-volume model for Ferrari.
The second model is expected to align more closely with Ferrari’s traditional strategy of producing 5,000 to 6,000 units over a five-year lifespan, which is currently challenged by the lack of customer interest.
Ferrari is set to present its new long-term business plan to investors on 9 October.
