Ferrari has postponed the release of its second electric vehicle to at least 2028, which could signal weakening demand in the high-end EV market, according to Reuters.
The delay mirrors increasing caution among luxury automakers as global EV adoption slows, particularly in key markets such as China and the United States. Ferrari's first EV remains scheduled for a 2025 debut, but Reuters reports that the company is adjusting its broader electrification plans in response to shifting marketing conditions.
"Aside from the lack of a throaty roar that comes with an electric sports car - the top selling point for many wealthy buyers - automakers have struggled to overcome the fact that EV batteries are far too heavy and simply lack the sustained power of a fossil-fuel engine," reported Reuters journalist Giulio Piovaccari in the report.
Ferrari's initial EV release will align with the opening of its new "e-building" production facility in Maranello, Italy. The second model, originally planned for as early as 2026, has now been pushed to 2028 or later. Sources told Reuters the decision was made earlier this year but has not been officially announced.
Still, Ferrari has taken its sweet time creating an EV worthy of its name. While brands like Porsche and Mercedes have already pushed out several electric models, Ferrari's only real step so far has been the SF90 Stradale—a plug-in hybrid launched in 2019 that still leans heavily on a V8 engine. A fully electric Ferrari? It's still a no-show. Back in 2021, the company said its first EV would show up by 2025, but we're still waiting.
Analysts interviewed by Reuters also pointed to consumer hesitancy around high-performance EVs, citing factors such as limited range, weight issues, and reduced emotional appeal compared to traditional combustion engines. In response, several automakers have revised their EV targets or increased investments in hybrid technologies, according to the report.
Ferrari declined to comment to Reuters on the reported delay of its second EV model. However, sources familiar with internal plans confirmed that the 2025 timeline for its first EV remains in place.
Originally published on Tech Times
