Maserati, the Italian luxury sports car brand owned by Stellantis (STLAM.MI), has officially scrapped plans for an electric version of its MC20 sports car. The decision, announced on Tuesday, comes as the automaker struggles with declining sales and weak market demand for battery electric vehicles (BEVs) in the supercar segment.
The all-electric MC20 Folgore was initially set to make its debut this year, marking a significant step in Maserati’s transition to electrification. However, after reassessing market conditions, Maserati has determined that the commercial viability of the model is insufficient to justify its launch. A company spokesperson explained that existing MC20 customers overwhelmingly prefer powerful internal combustion engines and are not ready to transition to electric powertrains in the foreseeable future.
Market Realities Shape Maserati’s Strategy
The decision to cancel the MC20 Folgore highlights a broader challenge faced by luxury automakers navigating the shift to electric mobility. While brands like Ferrari (RACE.MI) and Lamborghini have mapped out plans for EV models, customer preferences in the high-performance segment remain largely tilted toward traditional combustion engines.
“Our market research clearly indicates that MC20 buyers prioritize raw power and the visceral driving experience offered by petrol engines. The demand for an electric version simply does not meet the levels needed for a sustainable business case,” Maserati said in a statement.
Launched in 2020, the MC20 is powered by a 630-horsepower twin-turbocharged V6 engine and is manufactured in Modena, Italy. With a starting price of approximately 240,000 euros ($262,000), it serves as a flagship model in Maserati’s lineup.
Declining Sales and Uncertain Electrification Plans
The cancellation of the MC20 Folgore comes at a critical time for Maserati, as the brand grapples with declining sales and financial losses. In 2023, Maserati sold just 11,300 vehicles, a sharp decline from 26,600 in 2022. The brand also reported an adjusted operating loss of 260 million euros ($284 million), adding further pressure to Stellantis’ ongoing review of Maserati’s business strategy.
The uncertainty surrounding Maserati’s electrification roadmap is further underscored by Stellantis’ recent hesitation to confirm previously announced EV plans for the brand. During a meeting with labor unions in November, Stellantis executives refrained from providing updates on Maserati’s electrification targets, signaling potential strategic shifts.
Competitive Landscape: Ferrari, Lamborghini, and Porsche Move Ahead
While Maserati pulls back on its electric ambitions, its competitors are moving full steam ahead. Ferrari is set to launch its first-ever EV in October 2025, while Lamborghini, owned by the Volkswagen Group, has scheduled its first electric model for 2029. Porsche, which introduced its first EV, the Taycan, in 2019, continues to expand its electric lineup with significant success.
Despite dropping the MC20 EV project, Maserati still offers battery-electric versions of the GranTurismo coupe, GranCabrio convertible, and Grecale SUV. However, with no new model launches currently on Maserati’s horizon—aside from the GT2 Stradale expected in the first quarter—uncertainty looms over the brand’s future direction.
As Stellantis continues to reassess Maserati’s business plan, the fate of the company’s electrification strategy remains uncertain. Industry analysts suggest that a strong electric offering will be necessary for Maserati to remain competitive, but the brand’s current customer base appears reluctant to embrace the shift away from combustion engines.
With rival luxury sports car manufacturers taking bold steps into electrification, Maserati now faces a critical challenge: finding a way to balance its storied past with the future of the auto industry.
