Ferrari's Jaw-Dropping $7,500-a-Year Battery Subscription – Worth It or Waste of Cash?
The iconic Prancing Horse from Maranello is diving headfirst into the future with a bold new initiative: a battery subscription plan for its hybrid models and upcoming electric vehicles (EVs). First revealed by Bloomberg, this extended warranty service will set Ferrari owners back a smoldering €7,000 per year, which equates to about $7,500 annually at current exchange rates. Let's break down what this hefty tag brings to the table.
What's in the Subscription Package?
For the hefty price, Ferrari's battery subscription guarantees a battery replacement after eight years or sooner if any defects arise. This is not limited to the battery alone – related issues are also covered. Imagine driving your precious 296 or SF90 without having to worry about your high-voltage battery conking out; that's peace of mind Ferrari promises, albeit at a high cost.
However, some might argue that the $7,500 annual fee is excessively steep. Considering that even the anticipated high-voltage battery for Ferrari's first full EV might not cost as much, the pricing seems rather inflated. For example, the Mercedes EQE 350+ Sedan, which boasts a 90.6 kWh battery, starts at around $74,900 without additional charges. Comparatively, Ferrari's plug-in hybrid models like the 296 and SF90 have batteries with capacities less than 8.0 kWh.
Why Eight Years?
So, why has Ferrari chosen an eight-year period for battery replacement? This is largely because of US federal laws, which require EV and hybrid manufacturers to include an eight-year or 100,000-mile warranty on high-voltage batteries. Potential Ferrari buyers who don't plan on keeping their vehicles for that long can instead rely on Ferrari's standard five-year battery warranty, effectively reducing the immediate need for this subscription service.
The Shift in Ferrari's Sales
The need for such a subscription plan becomes apparent when looking at Ferrari's current sales figures. In 2023, 44% of Ferrari’s sales were hybrids, with the remaining 56% being traditional internal combustion engine (ICE) vehicles. As emissions and fuel economy regulations tighten worldwide, it’s expected that this mix will tilt further toward hybrid and all-electric models in the near future.
It's worth noting that Ferrari isn't fully abandoning its legendary screaming V12 engines. Despite regulatory pressures, the carmaker is keen to keep these engines alive, even if it means switching to synthetic fuels in the future. A turbocharged V12 is, however, off the table, keeping purists happy.
Current Electrified Lineup and Future Prospects
Ferrari's electrified lineup is already impressive. The 296 GTB, 296 GTS, SF90 Stradale, SF90 Spider, SF90 XX Stradale, and SF90 XX Spider are all part of Ferrari's current range of hybrids. On the other hand, models like the Roma, Roma Spider, 12Cilindri, 12Cilindri Spider, and the Purosangue SUV still breathe nothing but traditional fuel.
The hybrid models come with diverse powertrains. The Roma series is moved by a twin-turbo V8, while V12s power the 12Cilindri and Purosangue. The 296 series features a powerful 3.0-liter V6 augmented by an electric motor, producing an impressive 819 horsepower. Meanwhile, the SF90 XX tops the charts with a grand total of 1,016 horsepower from an eight-cylinder engine paired with three electric motors.
Although Ferrari's first-ever EV isn't expected this year, gearheads have much to look forward to. The upcoming LaFerrari-replacement, known as the F250, will soon make its debut, featuring a twin-turbo V6 coupled with some level of electrification.
In conclusion, while Ferrari's new battery subscription plan might seem over-the-top expensive at first glance, it aligns with Ferrari’s strategy to secure customer satisfaction and maintain its illustrious legacy as it transitions into the electric era. Whether it's worth the cost is ultimately a question of how much you value peace of mind and maintaining the pristine condition of a million-dollar machine.