The battery is the most expensive component in most electric vehicles, and there have been cases where replacing it after the warranty has ended has resulted in a bill that costs more than the value of the vehicle.
While this is unlikely to happen in the case of Ferrari’s electric vehicle that will be launched next year, which is reported cost over $500,000Ferrari could still offer an extended warranty to ease owner concerns about a dead battery, as well as create a new revenue stream for the company.
Quoting people familiar with the matter, Bloomberg reported Wednesday that Ferrari plans to offer an extended battery warranty for its EVs and hybrids. The guarantee will be offered as an annual subscription costing around 7,000 euros (approximately US$7,500).
This is different for drum subscriptions offered by companies like Vinfast and Nio, where the initial cost of the battery is discounted from the cost of the vehicle and then owners pay a subscription for battery usage.
![Ferrari Electric Building Ferrari E-Construction](https://thegurumedia.com/wp-content/uploads/2024/06/ferrari-e-building_100934539_l.webp.webp)
Ferrari E-Construction
According to Bloomberg’s sources, Ferrari’s extended warranty will cover any battery-related defects, as well as a regular battery change every eight years, ensuring there is no loss of performance over time due to battery degradation.
Just like Ferrari’s existing extended warranties, the level of security offered by the extended battery warranty should help maintain resale values, especially as more electrified models are released.
Ferrari cars currently come with a three-year factory warranty, while for hybrid models the factory warranty extends to five years for the battery and related components. Ferrari EVs will also have this standard level of coverage, according to Bloomberg sources.
Ferrari hasn’t said much about its first EV, other than the vehicle, believed to be another SUV, will make its debut in late 2025 and go into production early the following year at Ferrari’s new E-Building factory, which opened last week. Located next to Ferrari’s existing factory in Maranello, the E-Building will be used for gas, hybrid and electric vehicles, as well as components such as batteries and electric motors. The extra capacity the factory provides will allow Ferrari to potentially increase annual production to around 20,000 vehicles, up from about 14,000 today.