After nearly five years of anticipation and countless promises, Maserati has officially canceled its all-electric MC20 Folgore supercar. The Italian luxury carmaker confirmed that the project was terminated at the end of last year due to a surprising lack of demand in the super sports car segment.
A Powerful Vision That Never Materialized
The electric variant of Maserati’s flagship MC20 supercar was first announced back in 2020 when the gas-powered version made its debut. The Folgore (Italian for “lightning”) was designed to be a technological tour de force with three electric motors producing over 700 horsepower—significantly outmuscling the standard MC20’s 621hp V6 engine.
Performance projections were nothing short of breathtaking. Maserati had promised a 0-62mph time of just two seconds, advanced torque vectoring, and the same head-turning design that made the gasoline MC20 an instant classic. The EV supercar would have served as the crown jewel in Maserati’s ambitious electrification strategy.
“The brand is not just about sports cars, it’s about gran turismo, it’s about quality of life, dolce vita and technology,” former Stellantis CEO Carlos Tavares had stated last year when discussing Maserati’s positioning.
Market Reality Strikes Hard
Despite years of development, the company discovered a harsh truth: their target customers simply weren’t interested in an electric supercar—even with the MC20’s stunning aesthetics. Maserati’s spokesperson explained the cancellation to automotive publications in no uncertain terms.
“Market studies for the super sports car segment and especially for MC20 customers has demonstrated that they are very keen on driving powerful ICE engines,” the company stated. They found that these customers “are not ready to switch to BEVs for the foreseeable future.”
This revelation comes amid broader challenges for electric vehicle sales globally and significant troubles within Maserati itself. The brand’s sales have plummeted dramatically, with only 11,800 new Maseratis finding homes in the first nine months of 2024, compared to 20,400 during the same period in 2023—a decline of more than 40 percent.
Broader Implications for Maserati’s Electric Future
The cancellation raises serious questions about Maserati’s previously announced all-electric ambitions. The brand had boldly claimed that its entire lineup would be electrified—either as battery electric or hybrid vehicles—by 2028, with a complete transition to all-electric models by 2030.
Several other electric models are ostensibly still in the pipeline, including a large electric SUV planned for 2027 and an electric successor to the Quattroporte sedan, although the latter has already been delayed from 2024 to 2028. The MC20 Folgore was meant to sit at the top of this electric range, alongside the existing GranTurismo Folgore, Grecale Folgore SUV, and GranCabrio Folgore convertible.
Financial Realities and Corporate Challenges
The cancellation follows an ominous move by parent company Stellantis, which recently wrote off approximately $1.5 billion in investments in the Maserati brand. Much of this investment had reportedly been dedicated to developing new electric vehicles.
“Maserati is in the red,” Tavares had bluntly acknowledged. “The reason is marketing. The Maserati brand is not clearly positioned, and the storytelling is not how it should be.”
What’s Next for the MC20?
Instead of the canceled electric variant, Maserati will reportedly focus on refreshing the existing gas-powered MC20. This update could incorporate some of the enhancements featured in the MC20 GT2 Stradale racing version, potentially including a modest power boost of around 10 additional horsepower.
The situation also raises questions about the fate of the related Alfa Romeo 33 Stradale, which shares its architecture with the MC20. An electric version of this ultra-limited supercar (only 33 units worldwide) had been planned with 750 horsepower and a 240-mile range, but its future now seems uncertain given the shared platform with the canceled Maserati.
