Maserati’s EV Plans Under Review as Stellantis Adjusts Strategy
Maserati, the Italian luxury carmaker, is reevaluating its electric vehicle (EV) strategy following a shift in direction from its parent company, Stellantis. The brand had previously aimed to become fully electric by 2030, but recent developments suggest a potential retreat from this commitment.
Stellantis has reportedly reduced its investment in the Maserati brand by €1.5 billion. This reevaluation comes as Stellantis, which also oversees brands such as Dodge, Jeep, and RAM, grapples with the challenge of aligning its battery-electric vehicle (BEV) sales with its substantial BEV investments. The company’s profits decreased by 70% in 2024.
Maserati has also faced challenges in the Chinese market. Entering the market later than competitors, the brand then saw its sales impacted as Chinese consumers increasingly favored domestic brands, even in the luxury and performance car segments.
Global sales for Maserati declined significantly, falling from 26,600 vehicles in 2023 to just 11,300 in 2024. This downturn occurred despite the brand’s diverse lineup, which included two sedans, a grand-tourer coupe, two SUVs, and the acclaimed MC20 supercar. Maserati reported a loss of €260 million in 2024, a stark contrast to its €141 million profit in 2023.
One of the initial models likely to be affected is the electric Folgore version of the MC20, despite its advanced development. According to Stellantis’s financial documents released this month, there has been “the cancellation of certain projects prior to launch.” The FIM Italian manufacturing trade union has also confirmed this. The combustion-powered Quattroporte flagship was originally slated for an EV replacement this year but has been pushed back to 2028. Similarly, the large Levante SUV has been discontinued, with its EV replacement now scheduled for 2029.
Maserati’s commitment to electrification might have been too ambitious, especially given its plans for Folgore versions (named after the Italian word for lightning) of the mid-sized Grecale SUV and the GranTurismo/GranCabrio models to completely phase out combustion engines by 2030. However, the luxury automotive sector is experiencing a general shift, as Porsche, Mercedes, and Audi reevaluate their EV commitments amidst lower-than-expected demand.
Porsche is accelerating the development of an unplanned combustion-powered version of the Macan, after early demand for its all-electric replacement for the popular Macan SUV failed to meet expectations.
