Maserati has scrapped plans for an electric MC20 supercar, citing insufficient buyer demand.
Evo first reported the news on March 6, referencing an official automaker statement. This comes just a week after parent company Stellantis announced 1.5 billion euros ($1.63 billion) in write-downs related to the brand.
"The project was stopped due to the current forecast for insufficient demand in the super sports car market for a battery electric vehicle," the statement read.
Just a year ago, Maserati planned to sell only EVs by 2028 and had begun phasing out gas engines—the V-8 was discontinued last year. But EV demand has grown more slowly than expected, even declining in some markets.
2022 Maserati MC20
Maserati's outlook appears grim, with gas vehicle sales also struggling. Total sales dropped from 26,600 vehicles in 2022 to just 11,300 in 2023. The brand swung from profits of 141 million euros ($152 million) to losses of 260 million euros ($281.5 million) over the same period, reigniting rumors of a potential sale.
Maserati currently offers electric versions of its Grecale crossover, GranTurismo, and GranCabrio under the Folgore name. Beyond the MC20, Maserati had also planned fully electric next-generation Quattroporte and Levante models.
Given shifting market dynamics, Maserati may reconsider that strategy. Many competitors have already walked back all-electric plans, now intending to sell gas-powered cars well into the next decade.