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Ferrari Plans $7,500 Hybrid, EV Battery Service Subscription

ferrari ev battery service subscription

Ferrari Plans $7,500 Hybrid, EV Battery Service Subscription.

Ferrari NV plans to offer an extended warranty service for its next generation of hybrid and electric supercars to soothe customer concerns over aging battery packs.

The Italian manufacturer is set to offer an annual subscription costing around €7,000 ($7,500) for batteries, people familiar with the matter said. The service will entitle drivers to a battery replacement in hybrid models, such as the €418,000 plug-in hybrid SF90 Stradale, after eight years and covers related defects, they said.

Some high-end automakers like Bugatti and Aston Martin Lagonda Global Holdings Plc charge their deep-pocketed buyers significant fees to help service the vehicles, generating additional revenue. Aston Martin’s $3 million Valkyrie attracts a fee of nearly $450,000 over three years, while a four-year extended warranty for the similarly-priced Bugatti Chiron sets drivers back around $170,000.

Ferrari will offer the same service for its first all-electric vehicle that’s due late next year, the people said. A second battery pack replacement is automatically scheduled in a vehicle’s 16th year, they said. All of the carmaker’s models are covered by a standard three-year warranty. For hybrids, this extends to five years on battery and related components.

The battery-pack subscription service is part of Chief Executive Officer Benedetto Vigna’s broader strategy to seek fresh revenue streams while building customer loyalty. It’ll be available through Ferrari’s official dealers and is aimed at maintaining the resale value of the vehicles and overcoming consumer reticence to switch from combustion engines.

Hybrid models accounted for about half of shipments last quarter. Total sales last year amounted to just under 14,000 cars, with Ferrari’s production run routinely selling out well in advance.

The automaker will be straddling EV and combustion-engine technology for years, servicing traditional customers and younger clients alike with different preferences, as well as adhering to tightening CO2 emissions regulation. Vigna has pledged to push ahead with electrification even as EV demand in the broader market is cooling.

READ the latest Batteries News shaping the battery market

Ferrari Plans $7,500 Hybrid, EV Battery Service Subscription. source

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