Ferrari delays second electric car to 2028 amid weak EV demand
Ferrari's first electric vehicle, launching in 2026, is predicted to be a flagship and limited-run symbolic launcher into the EV market. Check Offers
The Italian supercar and hypercar maker, Ferrari is reportedly scaling back its electric ambitions due to underwhelming consumer interest. The iconic Italian automaker has now delayed its second EV model to 2028—two years later than originally planned—citing lackluster demand for electric performance cars, a report by Reuters stated.
Now, while there's a shift across the board to electric vehicles, electric supercars are still coming to grips with the market availability. Mate Rimac, founder of Rimac Automobili, and a key player in the EV hypercar market, suggests that the marketplace hasn't taken to electric supercars readily yet. If brand identity was built around visceral, petrol powered performance - like Ferrari, it presents a challenge to convince the client to go electric.
Also Read : Ferrari 12Cilindri roars into India with V12 power. Check details
Ferrari's first electric vehicle, launching in 2026, is predicted to be a flagship and limited-run symbolic launcher into the EV market. Generally, it is a milestone in making good on the promise to deliver an EV car. But rather than showing a move into EV themselves, the second model, touted to have a wider availability will be delayed. Limited appeal, limited volume
Historically, Ferrari sells between 5,000 to 6,000 units of its mainstream models over a five-year span. However, according to insiders quoted by Reuters, replicating this success with an electric version in the current market seems unlikely. Simply put, the appetite for an electric Ferrari isn't there yet—especially among traditional buyers who crave the roar of a combustion engine.
The delay not only reflects demand concerns but also provides additional time for Ferrari to refine its EV technologies. The company has filed patents for a simulated engine and transmission system designed to bring some of the tactile excitement of internal combustion to electric platforms, akin to what Hyundai has done with the Ioniq 5 N. Nonetheless, technological innovation alone isn't enough if customers aren't eager to buy in.
Also Read : Sales of Ferrari's first EV to start in October next year, says CEO Not just a Ferrari problem
Ferrari is not alone in revisiting its EV strategy. Lamborghini pushed its first EV back to 2029, while Maserati abandoned its electric MC20 altogether. This trend is part of a wider shift among the luxury performance market—where the emotional and sensory engagement with petrol power remains a huge draw. A strategic pause
Given EV purchasing is lower than forecast and governments easing cryptocurrency bans on fossil fuel vehicles, the likelihood of Ferrari's delay is a smart move. Rather than pushing forward into a market it did not advance enough for, Ferrari is tacking left, likely holding onto its desirability and avoiding a potentially costly mistake. However, the market can change quickly. If performance EVs take off, Ferrari will be forced to quickly transition and remain relevant.
In the meantime, the Prancing Horse will hang back to watch, wait, and prepare itself for the market to be ready for a Ferrari electric vehicle.
Check out Upcoming Cars in India 2024, Best SUVs in India.
First Published Date: 18 Jun 2025, 10:13 AM IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fibre2Fashion
an hour ago
- Fibre2Fashion
Spain's Loewe debuts Citrea fabric in Paula's Ibiza 2025 Collection
Spanish luxury fashion house Loewe has incorporated the new Citrea fabric line—developed by textile innovators Pyratex and Orange Fiber—into its Paula's Ibiza 2025 collection. This innovative fabric is made by the Italian company Orange Fiber from a fibre derived from citrus peel agri-waste. 'Loewe has chosen our material to create an amazing, draped top for the Paula's Ibiza 2025 collection,' Orange Fiber said in a post on its official LinkedIn account. Loewe has featured Citrea fabricâ€'created by Pyratex and Orange Fiberâ€'in its Paula's Ibiza 2025 collection. Made from Sicilian citrus peel agri-waste, the sustainable fibre is combined with wood pulp to produce Tencel Limited Edition x Orange Fiber Lyocell yarn. Fully traceable and European-made, the fabric reflects a new vision of luxury blending sustainability with innovation. The fabric innovation stems from the abundant citrus waste generated in Italy—over 700,000 tonnes of orange peels discarded annually after juice extraction. This agri-waste is collected wet or sun-dried in Sicily, thoroughly cleaned, and processed to extract cellulose. The resulting fibre is combined with wood pulp using a low-impact method akin to the production of Tencel, resulting in a sustainable Lyocell yarn branded as Tencel Limited Edition x Orange Fiber. Once produced, the yarn is spun in Italy and transported to Portugal, where it is knit and finished by Pyratex. The result is a 100 per cent traceable fabric produced entirely in Europe, where citrus agri-waste effectively replaces part of the virgin wood pulp. 'The Pyratex Citrea fabric collection, centred on the reuse of citrus agricultural waste, aligns with our Spanish and Mediterranean identity. It represents a new concept of luxury, based on the harmony between sustainability and technological innovation,' Pyratex said in a LinkedIn post. Fibre2Fashion News Desk (KD)
NDTV
2 hours ago
- NDTV
Cash-Strapped Vatican Unveils Fundraising Video Centred On New Pope
Vatican City: The Vatican on Wednesday unveiled a fundraising video centred on newly elected Pope Leo, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church. The slick one-minute video was shown on giant screens in St. Peter's Square to crowds waiting for the pope's weekly audience, and spread on social media and the internet by Vatican news outlets. It starts with footage of the white smoke that announced Leo's election on May 8, followed by his first words as pope, "Peace be with you all", and images of cheering crowds, all accompanied by gentle piano music. The video urges people to donate to Peter's Pence - a papal fund used to support church activities and charity work which, according to latest available records, received 48.4 million euros ($55.66 million) in donations in 2023. The pope's home nation, the United States, accounted for the biggest share, equal to just over 28% of the total, but expenses far outstripped offerings, with the fund disbursing 103 million euros in the year, the Vatican said. "With your donation to Peter's Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need," the video says. Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total around 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned.
The Hindu
2 hours ago
- The Hindu
Cash-strapped Vatican unveils fundraising video centred on Pope Leo
The Vatican on Wednesday (June 18, 2025) unveiled a fundraising video centred on newly elected Pope Leo, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church. The slick one-minute video was shown on giant screens in St. Peter's Square to crowds waiting for the pope's weekly audience, and spread on social media and the internet by Vatican news outlets. It starts with footage of the white smoke that announced Pope Leo's election on May 8, followed by his first words as pope, "Peace be with you all", and images of cheering crowds, all accompanied by gentle piano music. The video urges people to donate to Peter's Pence - a papal fund used to support church activities and charity work which, according to latest available records, received 48.4 million euros ($55.66 million) in donations in 2023. The pope's home nation, the United States, accounted for the biggest share, equal to just over 28% of the total, but expenses far outstripped offerings, with the fund disbursing 103 million euros in the year, the Vatican said. "With your donation to Peter's Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need," the video says. Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total around 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned. ($1 = 0.8695 euros)
