Ferrari believes a $7,500 battery subscription will boost resale value

Ferrari plans to offer an annual battery subscription worth $7,500 for its hybrid and future fully electric vehicles. The extended warranty service is intended to allay concerns about Range deterioration As the battery-equipped Ferrari models age, Bloomberg reports. The Italian carmaker also intends to use this service to maintain the resale value of these vehicles. Ferrari is currently developing a loud prototype of an electric car.

The battery warranty service entitles the owner to a battery change after eight years, unless a defect occurs beforehand that requires an earlier replacement. They would automatically be scheduled for a second replacement after their vehicle’s 16th year on the road. This would not only provide peace of mind, but would also generate a steady stream of revenue for Ferrari, a goal for CEO Benedetto Vigna. The $7,500 annual fee may seem expensive to those of us not lucky enough to own a Ferrari, but it’s a tiny tenth to Maranello considering that the Ferrari 296 GTB starts at $338,000. Should an owner not want to pay the subscription, Ferrari hybrids are currently covered by a five-year battery warranty.

Ferrari’s hybrid models are already sold more its traditional combustion engine cars. Between July and September last year, hybrids accounted for 51 percent of Ferrari’s sales. This is not a gradual shift towards 100 percent, but a trend towards balance. Ferrari plans to use a mix of drive types in the foreseeable future. A fully electric model is due to be launched in 2025 and no fixed end date for its pure combustion engine models.