Luxury sports car manufacturer Ferrari announced two new warranty extension plans on Monday, allowing owners of its hybrid models to replace car batteries at specific times.
This move aims to help owners maintain Ferrari's resale value, as batteries often lose efficiency over time and become a key factor affecting the value of electric vehicles.
Ferrari said in a statement that as part of its new hybrid and power hybrid warranty extension plan, it will replace the high-voltage battery pack (HVB) of the car in the eighth and sixteenth year.
Ferrari has provided a five-year warranty period for their hybrid powertrain components.
The company said that these two projects will be transferred to any subsequent owners and are designed to "maintain the performance and excellence of Ferrari's hybrid vehicles."
"In the future development of battery technology, the replacement HVB will be a new, state-of-the-art component that will ensure the same performance as the original battery," it said.
The plan also provides an extended factory warranty period for the entire vehicle and its major powertrain components, which can be purchased with a two- to four-year renewable package.
According to insiders, these costs are about 7,000 euros ($7,530) per year and it is also said that these costs will also apply to Ferrari's new all-electric models to be launched next year.
The Italian automaker, known for its roaring gasoline engines, has been selling hybrid electric vehicles since 2019, including the SF90 Stradale, 296 GTB, and 296 GTS. The company has promised to launch its first all-electric vehicle by the end of 2025.