Ferrari delays second electric car to 2028 amid weak EV demand

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.

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.

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.

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