Ferrari has postponed its second fully electric vehicle (EV) from 2026 to at least 2028 due to insufficient demand for high-performance luxury EVs, according to two sources close to the matter, reports Reuters. This shift comes as the iconic Italian automaker prepares to launch its first EV later this year, navigating a challenging market where competitors like Lamborghini and Porsche are also scaling back electric ambitions.

First EV Launch on the Horizon

Ferrari, renowned for its powerful gasoline engines, will unveil its first EV in October 2025, with a world premiere planned for spring 2026. Customer deliveries are slated for October 2026. The model, co-designed by former Apple Chief Design Officer Jony Ive, is described as a “large” vehicle but not an SUV, with a price tag exceeding $500,000. “The first EV is more of a low-volume, symbolic milestone model,” one source noted, emphasizing its role in fulfilling Ferrari’s commitment to enter the EV market.

Ferrari Delays Second Electric Vehicle To 2028 Amid Low Demand For High-Performance Evs

Challenges in High-Performance EVs

The delay of the second EV stems primarily from weak consumer interest in electric sports cars. Unlike Ferrari’s hybrid models, available since 2019, EVs lack the signature engine roar that attracts wealthy buyers. Additionally, current EV battery technology poses challenges: batteries are heavy and struggle to deliver the sustained power of fossil-fuel engines, limiting their appeal for high-performance vehicles. “Demand for high-performance is currently zero,” a source stated, highlighting the market’s reluctance to embrace electric supercars.

Strategic Shift and Industry Trends

Ferrari’s decision aligns with broader industry trends, as other luxury automakers adjust their EV strategies. Lamborghini, a Volkswagen subsidiary, has delayed its first EV to 2029, while Porsche reduced EV production targets due to sluggish sales of its electric Macan SUV and Taycan. Maserati, part of Stellantis, canceled an electric MC20 sports car earlier this year. These moves reflect a cautious approach to electrification in the high-performance sector, where consumer preferences remain tied to traditional engines.

The postponement also allows Ferrari to refine its in-house EV technology. The second EV, initially delayed by a year, is now targeted for 2028 at the earliest. Internally, it’s viewed as a “game changer” for Ferrari’s EV strategy, designed to align with the company’s typical production of 5,000 to 6,000 units over a model’s five-year lifespan. However, low demand makes this volume unsustainable for now, one source explained.

Implications for EV Enthusiasts and the Luxury Market

For EV enthusiasts and Ferrari collectors, the delay signals a slower transition to electric supercars. The first EV, while groundbreaking, will be a niche offering, with its high cost and unique design catering to a select audience. The extended timeline for the second model suggests Ferrari is prioritizing technological advancements to meet performance expectations, potentially incorporating lighter batteries or improved power delivery systems.

Economically, the delay reflects caution in a volatile luxury EV market, where high development costs—often exceeding hundreds of millions of dollars—require strong sales to justify investment. Regulatory pressures, such as stricter emissions standards in Europe (e.g., Euro 7 regulations), may eventually drive demand, but for now, Ferrari’s strategy balances innovation with market realities.

Ferrari will share more details on its long-term plans, including its EV roadmap, at an investor presentation on October 9, 2025. As the luxury EV landscape evolves, enthusiasts await a future where electric power matches the thrill of Ferrari’s legendary roar.

Photos courtesy of Ferrari