Stellantis Pulls €1.5 Billion Investment from Maserati, Electric Future in Doubt

Stellantis has withdrawn a planned €1.5 billion investment from Maserati, casting serious doubt on the Italian luxury brand’s electric future and overall viability. This decision, disclosed during a recent earnings call, comes at a critical juncture for Maserati, which is grappling with plummeting sales and substantial financial losses.

The canceled investment, according to Stellantis CFO Doug Ostermann, will result in the abandonment of certain pre-launch projects, widely believed to include the highly anticipated electric MC20 Folgore. Ostermann cited shifting market dynamics, particularly in China, and a slower-than-expected transition to electric vehicles in the luxury segment as reasons for the funding withdrawal.

Maserati’s financial struggles are significant, with a €260 million loss last year and a sharp decline in global sales from 26,600 units to 11,300. The future of electric versions of the Quattroporte and Levante models is now uncertain.

Also Read: Kia PV5: Details and Specs Released for New Electric Van

The decision has prompted strong reactions from Italy’s FIM trade union, which is demanding answers from Stellantis regarding Maserati’s future. The union has scheduled a meeting for March 11 to seek clarity on the brand’s direction, criticizing Maserati’s marketing and emphasizing the urgency of addressing the brand’s challenges.

Compounding Maserati’s difficulties is the recent departure of Stellantis CEO Carlos Tavares, leaving the company to search for a new leader. The incoming CEO may be tasked with making difficult decisions about the future of various Stellantis brands, raising questions about Maserati’s long-term survival. The brand’s fate may depend on its ability to demonstrate its necessity within the Stellantis portfolio, particularly in a market saturated with luxury car brands.