Ferrari (NYSE: RACE) pushed back the launch of its second fully electric model from 2026 to at least 2028 due to weak demand for high-performance luxury electric vehicles. The world premiere of this first EV was scheduled for spring 2025, with initial customer deliveries expected in October 2026.
Two sources who refused to be named due to the matter’s sensitivity claimed that the Maranello, Italy-based company delayed the plan for a second Ferrari EV twice. They mentioned that there was initially a one-year postponement, but the model will launch in 2028 at the earliest, adding that demand for high performance in the luxury EV sector was currently zero.
One of the sources pointed out that although the lack of market interest remained a major problem, the delay would provide Ferrari additional time to further develop in-house technology for its second electric vehicle. The second source said the second EV model aligned more with the company’s strategy of delivering around 5,000 to 6,000 units over a five-year lifespan for a typical Ferrari model.
Vigna says Ferrari will only show the ‘technological heart’ of its electric car
Ferrari's pivot to electric is a classic case of chasing a trend without understanding the market's pulse. Low demand for high-performance luxury EVs? That’s a red flag. The elite want exclusivity, not just a shiny battery pack.
Keep an eye on their execution. https://t.co/ijGrpBSlQC
— 007ofWallST (@007ofWallSt) June 17, 2025
Vigna recently said Ferrari would only show its electric car’s “technological heart” in October as part of a three-stage unveiling process. However, an analyst who declined to be named said it sounded like there was some delay to Ferrari’s launch plan, as one could have expected to see the car itself at the meeting.
Vigna also stressed that his company would continue to “enrich” its products, as Ferrari unveiled the 296 Speciale plug-in hybrid model and its convertible version in May. Internally, Ferrari’s second electric car was reportedly seen as the “real game changer” for its EV strategy.
At the same time, the first car was more of a low-volume, symbolic milestone model that would meet its promise to launch its first EV in 2026. Ferrari’s first EV, which was co-designed by former Apple Chief Design Officer Jony Ive, will allegedly cost over $500K. One of the anonymous sources described it as an atypical model for Ferrari, saying it would be larger than usual, but it would not be an SUV.
Ferrari’s Chief Executive Benedetto Vigna mentioned in February that the much anticipated first EV, a departure from its roaring petrol engines, would be presented at the company’s capital market day on October 9. Ferrari disclosed plans to continue offering petrol, hybrid cars, and EVs. Hybrid models, which it started to sell in 2019, made up 51% of Ferrari’s car sales last year.
Aston Martin pushes back its first electric car from 2025 to 2026
Aston Martin also pushed back its first electric car from 2025 to 2026 due to low consumer demand. The company’s Chairman, Lawrence Stroll, said it was scheduled to launch a high-riding, four-wheel-drive electric GT in 2025, but consumer demand was not what it was when the plans were first outlined. He, however, confirmed that Aston Martin had designed four EVs but stopped short of confirming whether they were envisioned as direct replacements for the current line-up, which comprised three front-engined sports cars and the DBX SUV.
The Aston Martin team said it will continue to use plug-in hybrid powertrains as a “bridging” technology for its customers as the company transitioned from pure-ICE to a pure-EV line-up. The British brand’s first PHEV was the mid-engined Valhalla supercar, which was scheduled for launch in the final quarter of 2024 with an electrified V8 arrangement supplied by Mercedes-AMG.
Ineos founder Sir Jim Ratcliffe said consumers should have a choice, adding that automakers could not force them and that, at the moment, they were “voting with their feet” not buying high-end EVs. He recognized that not all consumers wanted luxury EVs but acknowledged that there was surely a use case for them.
Lamborghini also said it would postpone the launch of its first electric model to 2029 instead of 2028, and Germany’s Porsche cut back its plans for EVs amid soft sales of its electric Macan SUV and Taycan models. Earlier this year, Maserati canceled plans for an electric version of its MC20 sports car.
