The landscape of the automotive industry is constantly evolving, and one of the most recent shifts has been the reevaluation of electric vehicle timelines by ultra-luxury and supercar brands. Initially, many automakers were eager to announce their commitment to an all-electric future, but as we enter 2025, these same brands are now rethinking their strategies and reinvesting in gas-powered cars.
The reason for this shift in direction can be attributed to the lack of interest from buyers in battery-powered supercars. Luxury brands, in particular, have realized that their customer base prefers gas and hybrid powertrains over electric vehicles. As a result, these brands are extending the lifespan of gas-powered halo cars to cater to customer preferences.
Porsche, for example, had ambitious plans to convert 80% of its fleet to battery-electric vehicles by the end of the decade. However, the brand has decided to focus on a mix of electrification options, including interim hybrids, to better serve its customers. Similarly, Mercedes-Benz and BMW have also slowed down their EV rollout due to lackluster demand for electric models.
In the ultra-luxury segment, Bentley has revised its plans to phase out gas engines by 2035 and is now extending the ICE age in response to customer demand. CEO Frank-Steffen Walliser acknowledges the dip in demand for luxury electric vehicles and emphasizes the importance of taking customers along the electrification journey.
Even in the exotics and hypercars segment, there is resistance to fully electric models. Mate Rimac, Christian von Koenigsegg, and Lamborghini have all expressed concerns about the limited demand for electric hypercars among their customers. Lamborghini CEO Stephan Winkelmann highlighted the preference for internal combustion engines among their clientele and emphasized the importance of fulfilling customer dreams.
While some brands like Ferrari are planning to launch electric models in the future, internal sources suggest that there is minimal demand for high-performance EVs. The core customer group of high-dollar performance brands seems to favor the sensory experience provided by combustion engines over electric motors.
Ultimately, the reluctance of ultra-luxury and supercar brands to fully embrace electric vehicles does not signal the end of the EV dream. Instead, it reflects a more deliberate approach to electrification that includes both battery-electric and hybrid options. The shift in timelines may delay the arrival of electric supercars, but it underscores the importance of aligning with customer preferences in the high-dollar automotive market.