Maserati will offer electric versions of its cars by 2025

(Bloomberg) — Maserati will produce an electric version of all its models by 2025, CEO Davide Grasso told reporters in a March 17th conference call.

The company also plans to phase out all its internal combustion engine vehicles by 2030, Grasso said, although it refused to give a firm deadline. “It's the landing point,” he said. “It's the consumer who decides.”

“Starting today, the plan is not to only offer battery electric vehicles by 2030,” a spokesperson confirmed in a follow-up email.

Executives who participated in the call described the new electric models as part of a range called Maserati Folgore. It includes a new electric GranTurismo, which will be released next year, and the new Grecale electric SUV, which will debut next week after a six-month delay due to a shortage of computer chips.

The all-electric versions of the MC20 supercar, a Levante electric SUV and the Quattroporte electric sports sedan will go on sale in 2025. (The MC20 Supercar is currently offered as a hybrid V6; a Spider version is expected to be released later this year.)

The announcement came after Stellantis NV's sole luxury brand recorded a slight increase in its global market share, to 2.4%, by 2021. Maserati's market share increased to 2.9% and 2.7% in North America and China, respectively, according to a company report. Last year, it recorded annual growth of 41% with a total of 24,269 vehicles delivered worldwide.

Maserati has seen uncompetitive products and poor returns as it tries to attract more female and novice buyers to its 107-year-old brand. Parent company Stellantis, created in 2021 following a mega-merger of 14 brands between the PSA Group and Fiat Chrysler, is facing an acute semiconductor shortage and ongoing challenges related to the coronavirus pandemic. Earlier this month, he said he would need to cut costs and speed up electrification to maintain double-digit returns. In October, he said he would restructure its historic Turin factory into an electric vehicle hub, moving the production of two luxury Maserati models to the Mirafiori factory.

Maserati has not touched on many details regarding the new plan for new electric vehicles. Grasso and Francesco Tonon, head of global product planning, declined to comment on the potential source of battery technology for the new electric range or to provide performance or mileage figures for vehicles to come. “The ranking level will satisfy our customers,” Tonon said. They refused to say how much money they were spending on the project.

Grecale deliveries will begin in Europe this summer, they said, and deliveries to the United States will begin shortly thereafter.

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