The battery is the most expensive component in most electric vehicles, and there have been cases where replacing a battery after the warranty has expired resulted in a bill that cost more than the vehicle was worth.
While that probably won’t happen in the case of Ferrari’s electric car due out next year, which will reportedly cost more than $500,000, Ferrari may still look to offer an extended warranty to address owner concerns about a dead battery and to provide a new source of income for the company.
Citing people familiar with the matter, Bloomberg reported Wednesday that Ferrari plans to offer an extended battery warranty for both its electric vehicles and hybrids. The warranty will reportedly be offered as an annual subscription costing around 7,000 euros (about $7,500).
This is different from battery subscriptions offered by the likes of Vinfast and Nio, where the initial cost of the battery is deducted from the cost of the vehicle, and then owners pay a subscription for battery use.
Ferrari E building
According to Bloomberg’s sources, Ferrari’s extended warranty covers all battery defects, as well as regular battery replacement every eight years, ensuring that there is no loss of performance over time due to battery degradation.
Like Ferrari’s existing extended warranties, the level of assurance provided by the extended battery warranty should help maintain resale value, especially as more electrified models enter the market.
Ferrari’s cars currently come with a three-year factory warranty, while hybrid models have had their battery and related components extended to five years. According to Bloomberg’s sources, Ferrari’s electric cars will also get this standard level of coverage.
Ferrari hasn’t said much about its first EV other than the vehicle, thought to be another SUV, set to debut in late 2025 and enter production early next year at Ferrari’s new E-Building factory that opened last week. The E-Building, located next to Ferrari’s existing factory in Maranello, will be used for gas, hybrid and electric vehicles, as well as components such as batteries and electric motors. The additional capacity provided by the factory will allow Ferrari to potentially increase annual production to around 20,000 vehicles, up from around 14,000 today.