After years of declining sales and struggling to keep up with a shifting understanding of luxury, Maserati has made a major shift in strategy.
The Italian carmaker last week announced that it will launch fully electric versions of each of its current models by 2025 and go fully EV by 2030.
While competitors like Lamborghini and Ferrari (RACE) have long ago rolled out luxury EVs, Maserati's trio of electric vehicles is set to launch in 2023.
What Maserati EVs Are Coming In 2023?
Earlier this year, Maserati announced that it will start selling all-electric versions of its Granturismo and Grancabrio GTs by 2023. While the midsize Grecale SUV was only announced on Tuesday, it is set to become the first car available for sale under the Folgore (the Italian word for lightning) range.
Maserati
With the name coming from a type of Mediterranean wind, the Grecale will feature a 105 kWh battery pack and a 523-horsepower twin-turbo V6 engine. The steel gray color is inspired by the Guggenheim museum in Bilbao, Spain.
While Maserati is most closely associated with luxury sports cars, the automaker had already launched a luxury SUV in 2017 — according to TechCrunch, the Levante SUV currently makes up around 60% of the car brand's sales.
The automaker has also been working to replicate that sports car-style "vrroom" to still be available in SUV and electric versions but has not yet released details on the price and more precise availability of the electric Grecale.
"The Maserati sound has always been a very critical element defining the brand and the product," Maserati CEO Davide Grasso told TechCrunch. "It's been a demanding process, and I'm actually really excited about the results."
Maserati
By 2025, Maserati also plans to launch three more EV versions: the MC20 Spyder, the Levante SUV and the Quattroporte sedan. A gas-powered version of the Grecale will be coming out in advance of the EV.
What Is Happening In The World Of Luxury EVs?
Now that Tesla (TSLA) has firmly uprooted the EV market, traditional automakers are tripping over themselves to release their own newer and better electric luxury options as the the electric car market grows to over $726 billion by 2026. Bentley has recently committed to ramp up production to the point of having a new car each year from 2025 to 2030.
While Tesla made up 79.5% of all EV sales in the second quarter of 2020, that number fell to 66.3% by the same period in 2021 and is going to keep falling as consumers are given more and more options.
