Luxury sports car maker Ferrari on Monday announced two new extended warranty programs that allow owners of its hybrid models to have their vehicles’ batteries replaced at specified times.
The move aims to help owners preserve the resale value of their Ferraris, as batteries, which tend to lose efficiency over time, become a critical part of the value of electrified cars.
Under its new Warranty Extension Hybrid and Power Hybrid programs, Ferrari will replace the high voltage batteries (HVB) of covered cars in their eighth and sixteenth years of life, the company said in a statement.
Ferrari already offers a five-year warranty on its hybrid powertrain parts.
Both programs, which will be transferred to any subsequent owner, aim to “preserve the performance and excellence” of 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 will guarantee the same performance as the original component,” the company said.
The programs, which also offer forms of factory warranty extension on all cars and major powertrain components, can be purchased as renewable packages for two to four years.
They cost about 7,000 euros ($7,530) a year, a source familiar with the matter said, adding that they will also apply to Ferrari’s new all-electric model due next year.
The Italian automaker, famous for its roaring gasoline engines, has been selling hybrid-electric cars since 2019, including the SF90 Stradale and the 296 GTB and 296 GTS. It has promised its first fully electric vehicle by the end of 2025.
($1 = 0.9301 euros) (Reporting by Giulio Piovaccari; Editing by Jason Neely)
