Luxury sports car maker Ferrari announced two new warranty extension plans that will allow owners of its hybrid models to replace their car's batteries at certain times.
The move aims to help owners maintain the resale value of their Ferraris as batteries, which tend to lose their efficiency over time, become a key component of the value of electric cars.
As part of its new Warranty Extension Hybrid and Power Hybrid warranty extension programs, Ferrari will replace the high-voltage battery packs (HVB) of covered vehicles in the eighth and 16th year of life, the company said in a statement.
Ferrari already offers a five-year warranty on parts of its hybrid powertrain.
The company said the two programs, which will be transferred to any subsequent owners, aim to "maintain the performance and excellence" of Ferrari's hybrid cars over time.
"In the case of future developments in battery technology, the HVB replacement will be a new, advanced component that will ensure the same performance as the original component," he said.
The programs, which also offer extended factory warranties for complete vehicles and their major powertrain components, can be purchased in renewable two- to four-year packages.
It costs around 7,000 euros (USD 7,530) a year, a source close to the matter said, adding that it would also apply to Ferrari's new all-electric model due to be launched next year.
The Italian automaker, famed for its roaring petrol engines, has been selling hybrid electric cars since 2019, including the SF90 Stradale, 296 GTB and 296 GTS. He has promised the first fully electric car by the end of 2025.
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