Published by Global Banking and Finance Review
Posted on March 11, 2025
MILAN (Reuters) - Stellantis-owned Maserati has cancelled plans for an electric version of its MC20 sports car because of expected poor demand, the struggling luxury carmaker said on Tuesday.
The MC 20 Folgore had been due to debut this year.
Maserati has taken the decision because of the commercial prospects, with few vehicles expected to be sold in the coming years, a Maserati spokesperson said in an emailed statement
According to market research, MC20 customers prefer powerful petrol engines and "are not ready to switch to BEV (battery electric vehicles) in a foreseeable future," the spokesperson added.
Launched in 2020, the 630-horsepower MC20 is made in Maserati's hometown of Modena, northern Italy, and has a starting price of around 240,000 euros ($262,000).
The news came after Stellantis, in a meeting with unions in November, declined to confirm previously announced electrification plans for Maserati.
The brand sold just 11,300 vehicles last year, down from 26,600 in 2023, with an adjusted operating loss of 260 million euros ($284 million).
Fellow Italian sports car maker Ferrari will launch its first EV in October while rival Lamborghini, part of the Volkswagen group, will roll out its first EV in 2029. Porsche has been offering EV models since 2019.
Maserati's range does include EV versions of the GranTurismo coupe and of its convertible version GranCabrio, as well as of the Grecale SUV.
Excluding the GT2 Stradale, a track-only model expected in the first quarter, Maserati has no new model launches scheduled, with Stellantis reviewing the brand's business plan after it was put on hold last year.
($1 = 0.9158 euros)
(Reporting by Giulio Piovaccari, editing by Alvise Armellini and Keith Weir)
Explore more articles in the Finance category
