Maserati, the luxury car brand owned by Stellantis, has abandoned its plans to produce an electric version of its MC20 sports car. The decision, announced on Tuesday, is a result of anticipated weak demand, a company spokesperson said.
The MC20 Folgore, the electric variant, was slated to debut this year. However, after market research indicated that the target demographic for the MC20 overwhelmingly prefers the powerful petrol engines and is not yet ready to embrace battery electric vehicles (BEVs), the plan was scrapped.
Launched in 2020, the gasoline-powered MC20 boasts 630 horsepower and has a starting price of approximately 240,000 euros (about $262,000). Production takes place in Maserati’s hometown of Modena, Italy.
The announcement follows Stellantis’ refusal to confirm previously announced electrification plans for Maserati during a November meeting with labor unions. The brand’s sales figures for the past year showed a significant decline, selling only 11,300 vehicles, down from 26,600 vehicles in 2023. The brand also reported an adjusted operating loss of 260 million euros ($284 million).
In contrast to Maserati’s pause on EV development, competitors are moving forward with their electric vehicle strategies. Ferrari is scheduled to launch its first EV in October, while Lamborghini, part of the Volkswagen Group, is planning its first EV rollout for 2029. Porsche, on the other hand, has been offering EV models since 2019.
Maserati already offers electric versions of its GranTurismo coupe, the GranCabrio convertible, and the Grecale SUV. Aside from the GT2 Stradale, a variation of the MC20 expected in the first quarter, Maserati has no new model launches planned. Stellantis is currently reviewing the brand’s business plan after it was put on hold last year.
