In what can be described as a major upset not only to its fans but also auto industry enthusiasts, Maserati has finally pulled the plug on what could have been its much-anticipated electric supercar referred to as the MC20 Folgore. Despite years of development and ambitious plans, the project was canceled by the company, citing the lack of demand in the sector of electric supercars.
The MC20 Folgore was all supposed to act as a technological demonstration for the brand – a tri-motor EV pumping out over 760 hp, with torque vectoring and a claimed 0-60 mph time of 2.7 seconds. It was intended to develop more output than the internal combustion MC20’s 621 hp V6 installed within the car and embody the same design that impressed people all over the world.
Engineering Ambitions, Market Realities
The flexible platform that underpins Maserati’s MC20 range had been in the making by the company for almost four years. The design was conceived for both, a road car, GT2 racing variant, and this powerful electric car. In many ways, the Folgore was to be Maserati’s flagship of forward-thinking electrification.
Yet, timing proved cruel. Specifically, the overall sales of electric vehicles have recently decelerated at the global level and first and second-tier segments of luxury and high-performance EVs. Consumer interest is still hampered by fears of running out of charge, inadequate charging facilities, and a lack of connection with electric cars, particularly when touching on high-priced supercars, where haptic feedback seems important. Interestingly, BYD Debuts EVs with 435 Mile Range and 5 Minute Fast Charging starting at just $30,000.
A Brand in Transition
However, this cancellation is not an isolated issue that happened at the company but a sign of the bureaucrats that is within Maserati. Thus, during the year 2024, nine months, Maserati sold as many as 11,800 automobiles as compared to 20,400 automobiles that were reported during the same time in 2023. This sharp drop was instrumental in some changes in leadership and management within the company and the brand’s loss of its CEO.
The MC20 Folgore was in the perfect position to tell that story. Had it used more disciplined use of design, staging, and innovation, it could have created a new language for Maserati of the new generation. It was to be an avant-garde declaration of direction, stylistically a cool interpretation of the essence of Maserati in electrified form.
However, the opportunity could not be capitalized as the combination of the two factors simply did not venture into a favorable enough sequence of figures. As great as all that might have sounded from a strategic perspective, without the consumers’ interest, especially in a niche market like this, a business case was virtually non-existent. The electric supercar still becomes a difficult proposition – the product has no passion, no desire, no ‘purpose’ as traditional type of buyers associate with this segment.
And so, the MC20 Folgore only remains as what could have been and the promising dreams of future success. It is also a rare cancelled car that did not even reach the status of a prototype with a teaser campaign or something of the sort in between. It existed mainly in its performance, on paper, and in the palaces of the elite. And now, it’s gone. It appears that, for the time being, Maserati’s electric supercar dream is put on hold; it may return in some other form in the future. A casualty of timing, identity crisis, and a cautious market.
