Maserati EV Future In Doubt Amid Stellantis Investment Write-Offs

Maserati could be the latest premium automaker to run away from its 2030 EV-only commitment, parent company, Stellantis, writing down €1.5 billion in investment at the brand.

The write-downs come as Stellantis, which also controls brands like Dodge, Jeep and RAM, has struggled to make its BEV sales match up with its BEV investments, with its profits falling by 70% in 2024.

Maserati’s product push has also been hurt by being late to the party in the Chinese market, then finding itself suffering as Chinese customers turned to domestic brands, even for high-end luxury and performance cars.

Maserati saw its global sales slashed from 26,600 vehicles in 2023 to just 11,300 last year, despite offering two sedans, a grand-tourer coupe, two SUVs and a critically acclaimed junior supercar in the MC20.

It lost €260 million in 2024, in an unwanted turnaround from its 2023 profit figure of €141 million.

The upcoming Folgore electric version of the MC20 is likely to be one of the first new models axed, despite being developed to production status. Stellantis’s own financial documents from this month refer to “the cancellation of certain projects prior to launch”, and the FIM Italian manufacturing trade union has confirmed the reference.

Maserati axed its combustion-powered Quattroporte flagship for a planned EV replacement this year, before pushing it back to 2028. Its large Levante SUV has also been discontinued for similar reasons, and its EV replacement was due in 2029.

Maserati might have over-committed to electrification, with Folgore (lightning) versions of the mid-sized Grecale SUV and the GranTurismo/GranCabrio siblings in a plan to phase out combustion power completely by 2030.

However, the luxury automotive industry has found itself backpedaling across the board, with Porsche, Mercedes and Audi all rethinking their commitments in the face of soft EV demand.

Porsche is already rushing through development of an unplanned combustion-powered version of the Macan, after disappointing early demand for its all-electric replacement for the big-selling Macan SUV.