Ferrari, which will launch its first electric car on the market next year, could offer an extended warranty to alleviate the owner’s concern about a dead battery, while also creating a new source of income for the company. According to Bloomberg, the Prancing Horse automaker intends to offer an extended warranty for batteries for both its electric and hybrid vehicles. The warranty will be offered as an annual subscription costing around $7,500.
Ferrari will offer an annual subscription costing around $7,500 for the extended warranty for electrified vehicle batteries
Ferrari‘s extended warranty will cover all possible battery defects, as well as regular scheduled battery replacement every eight years, ensuring that there is no loss of performance over time due to battery degradation. Similar to Ferrari’s current warranty extensions, the level of security offered by the battery warranty extension should help maintain resale value, especially with the launch of more electric models.
The battery subscription is thought to be an initiative by CEO Benedetto Vigna aimed at creating new revenue streams. In addition to the hope that it may benefit resale values, Ferrari believes the subscription will help convince customers to switch from pure combustion models to electrified ones.
As standard, new Ferrari models come with a three-year standard warranty, which is quite short considering how expensive the brand’s models are. Hybrid models also have a three-year warranty, but the battery and related components are covered by a longer five-year warranty. Other car manufacturers offer their hybrids and electric vehicles with battery warranties of up to eight years.
Ferrari has revealed few details about its first electric vehicle, except that its sound will be “authentic and unique“. According to the latest rumors and spy photos, it is speculated that the vehicle will be a crossover. The debut is scheduled for late 2025, with production starting in early 2026 at the newly inaugurated E-Building plant. Located next to Ferrari’s existing plant in Maranello, the E-Building will be used for hybrid and electric vehicles, as well as components such as batteries and electric motors. The extra capacity provided by the plant will allow the Prancing Horse automaker to potentially increase annual production to around 20,000 vehicles, compared to the current 14,000.