Maserati Launches Its First Electric SUV And Heats Up The Luxury EV Market

March 23, 2022

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By Cristian Bustos. Originally published at ValueWalk.

Maserati – Stellantis NV (BIT:STLA) – has launched on Tuesday the Grecale, its first all-electric SUV. The Italian luxury brand is hence taking the first steps to become fully electric by 2030, while it currently offers electric versions of its internal combustion engine models.

Following Luxury Brands’ Steps

As reported by CNN Business, the Grecale is the second SUV in the brand’s catalog, and will also be available in a high-performance, V6 engine version, as well as a mild hybrid, four-cylinder version.

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“Gas-powered versions of the SUV will be available for sale later this year. The all-electric version, called the Grecale Folgore, will go on sale next year,” according to the media outlet.

The Grecale fits in the brand’s catalog as a smaller vehicle than the successful Levante, which represented almost 60% of Maserati’s global sales in 2021. The electric version, the Grecale Folgore, is the first step towards full electrification by the luxury manufacturer.

With the launch, Maserati is following the path of other luxury brands like Bentley and Jaguar, which have also announced that their future is fully electric.

Going Forward

The company’s strategy is seen as a particular one in the segment since its models are often associated with high speeds and roaring, powerful combustion engines that offer an intense driving experience —most Maserati models are equipped with Ferrari NV (BIT:RACE) power units.

“Maserati has only recently started production of the new MC20 supercar, which has a Maserati-designed and built 630 horsepower V6 engine. The $216,000 MC20 is the only current Maserati model with an engine not made by Ferrari.”

Maserati is part of the multinational car manufacturer Stellantis, which is the result of a 50-50 merger between Fiat Chrysler Automobiles and PSA Group. It includes brands such as Dodge, Jeep Peugeot, Citroën, and Fiat.

Carlos Tavares, CEO of Stellantis, has lukewarm feelings with regard to the industry’s push towards full electrification and its impact on cutting down CO2 emissions. Recently, he told CNN Business that electric vehicles cannot do much without more encompassing initiatives towards clean energy.

Still, Stellantis is pressing the throttle on its electrification projects “because of the way the industry is going and what government regulations demand.”