Ferrari (RACE) is planning on delaying its second fully-electric car until at least 2028 due to weak demand for high-performance luxury EVs, Reuters reported Tuesday, citing sources familiar with the matter.

The model was initially set for a 2026 launch along with its first EV, with the second model focusing on high-performance buyers, but demand remains lacking for electric sports cars, Reuters reported the sources as saying.

The delay reportedly gives Ferrari more time to develop in-house technology for the second EV, which is seen internally as a critical component of the company's EV strategy.

Despite a commitment to hybrid models since 2019, Ferrari faces challenges with EV battery weight and power limitations, key issues for its affluent customer base, the news outlet reported.

Other sports car manufacturers have also delayed or scaled back their electric plans due to similar demand concerns, Reuters noted.

Ferrari did not immediately respond to MT Newswires' request for comment.

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