Owners who cough up for the battery subscription will get a new battery every eight years
June 28, 2024 at 11:15
- The special warranty will apply to the brand’s hybrid models and future EVs.
- Ferrari CEO Benedetto Vigna is looking for new ways to generate revenue.
- Ferrari also believes the warranty will help resale values.
Ferrari believes their clients are wealthy enough that it can offer a €7,000 (~$7,500) annual battery subscription. For this handsome sum, owners will benefit from an extended battery warranty and possibly a stronger resale value. How exactly will it work?
According to unnamed sources who are aware of the plans, the subscription will entitle owners to a battery replacement after eight years if they own a hybrid Ferrari, or its first EV set to premiere next year. The extended warranty also covers all defects related to the battery, providing owners with some added peace of mind.
Read: Ferrari’s First EV Spied Testing In Maranello With Maserati Guts?
When owners opt for the annual battery subscription, a second battery pack replacement will automatically be scheduled for when the vehicle celebrates its 16th birthday, Bloomberg reports.
As standard, new Ferrari models come with a standard three-year warranty, which is quite poor 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 EVs with eight-year battery warranties.
The battery subscription is thought to be an initiative from chief executive Benedetto Vigna aimed at building new revenue streams. In addition to the hope that it will benefit resale values, Ferrari believes the subscription will help convince customers to make the switch from pure-combustion models.
Over a period of eight years, Ferrari owners will pay an eye-watering €56,000 (~$60,000) for the battery subscription or €112,000 (~$120,000) over sixteen years. For most, that’s a staggering sum, but if you own a new Ferrari model, it’s probably just a drop in the ocean.
