Ferrari introduces battery replacement program to maintain performance and value of its cars

MILAN (Reuters) – Luxury sports car maker Ferrari announced on Monday two new extended warranty programs that will allow owners of its hybrid models to have their vehicles’ batteries replaced at certain times.

With this measure, we want to help owners maintain the resale value of their Ferraris, because batteries, which lose performance over time, play a central role in the value of electric cars.

Under its new Hybrid and Power Hybrid extended warranty programs, Ferrari will replace the high-voltage battery packs (HVB) of covered cars at ages eight and 16, the company said in a statement.

Ferrari already offers a five-year warranty on parts of its hybrid drive.

The two programs, which are transferable to each subsequent owner, aim to “preserve the performance and excellence” of the hybrid Ferraris over time, the company said.

“In the event of future developments in battery technology, the replacement HVB will be a new, state-of-the-art component that ensures the same performance as the original,” it said.

The programs, which also offer some form of extended factory warranty on the entire car and its major powertrain components, can be purchased in packages that are renewable for two to four years.

They cost around 7,000 euros ($7,530) a year, a source familiar with the matter said, adding that the same will apply to Ferrari’s new all-electric model due out next year.

The Italian automaker, known for its roaring gasoline engines, has been selling hybrid-electric cars since 2019, including the SF90 Stradale and the 296 GTB and 296 GTS. Its first fully electric vehicle is scheduled to hit the market in late 2025.

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(Reporting by Giulio Piovaccari; Editing by Jason Neely)