Ferrari Slows Down Second EV Plans
Ferrari has delayed its second electric vehicle (EV) due to lack of demand, according to anonymous sources cited by Reuters. The Italian luxury sports car manufacturer had initially planned to unveil its second EV in 2026, but now it’s expected to arrive no earlier than 2028.
The decision comes as Ferrari prepares to launch its first fully electric model in October this year, with deliveries starting in October 2026. The delay in the second EV model is attributed to the challenges faced by luxury automakers in overcoming the limitations of EV batteries, which are heavy and lack the sustained power of fossil-fuel engines.
European EV Market Shows Less Enthusiasm
A recent survey conducted by Shell across 15,000 drivers worldwide revealed that Europeans are less enthusiastic about switching to electric cars compared to Americans. The primary barrier to entry remains the high cost of EVs, which are on average 30% more expensive than internal combustion engine cars.
The survey showed that only 41% of European respondents considered switching to an electric car this year, down from 48% last year. In the United States, the figure dropped three percentage points to 31%. The slower adoption rate in Europe is also reflected in the dissatisfaction with public charging infrastructure, with only 17% of European drivers finding it a good value.
Industry-Wide Challenges
Ferrari is not alone in facing challenges with its EV plans. Lamborghini has delayed its first EV to 2029, while Porsche has scaled back its EV production targets due to lower-than-expected sales. Maserati has completely scrapped its plans for an electric version of its MC20 supercar.
Related Developments
Other automakers are also experiencing challenges. Jaguar-Land Rover has lowered its fiscal 2026 earnings forecast due to tariffs imposed by the Trump administration, which have affected its sales in the U.S. market. In contrast, Polestar has received a $200 million investment from Geely’s founder, Li Shufu, to help boost its EV business.
As the automotive industry continues to navigate the transition to electric vehicles, companies are reassessing their strategies in response to changing market demands and regulatory challenges.
