Ferrari unveils first electric car, targets luxury EV market with €550,000 Luce

Italian luxury automaker Ferrari has unveiled its first fully electric vehicle, the Luce, marking a major shift for the iconic sports car brand as several rivals scale back their electric vehicle ambitions over weak demand.

The new four-door EV, named “Luce”, the Italian word for “light”, was co-designed with former Apple design chief Jony Ive and his design collective LoveFrom.

Unlike Ferrari’s traditional two-seater sports cars, the Luce is a five-seater designed to attract wealthy families seeking luxury, performance and everyday practicality. The company said deliveries of the vehicle, priced at €550,000 (about $600,000), are expected to begin in the fourth quarter of 2026.

Speaking during the launch event in Rome, Ferrari CEO Benedetto Vigna described the vehicle as the result of five years of development work.

The Luce features four electric motors, one powering each wheel, and delivers more than 1,000 horsepower, according to Ferrari. The automaker said the EV can reach a top speed above 310 kilometres per hour and offers a driving range of more than 500 kilometres on a full charge.

Ferrari also said the vehicle has been engineered to preserve some of the emotional driving experience associated with the brand’s traditional combustion-engine models by amplifying natural vibration sounds from its electric powertrain.

The launch comes at a time when several luxury automakers are slowing down their EV transitions. Carmakers such as Porsche and Lamborghini have recently signalled caution over fully electric rollouts amid weaker-than-expected consumer demand in parts of the luxury market.

Ferrari, however, appears to be betting that younger high-net-worth buyers, particularly in markets like China where EV adoption is growing rapidly, will embrace high-performance electric luxury vehicles.

Ferrari’s chief marketing and commercial officer, Enrico Galliera, said the company sees demand from customers looking for a different type of Ferrari experience that fits various lifestyles and use cases.

Visually, the Luce departs from Ferrari’s traditional aggressive styling with a larger body, expansive glass design and softer lines. Inside, the vehicle combines leather, glass and anodised aluminium finishes with a mix of digital systems and physical controls, avoiding the fully touch-based approach adopted by companies like Tesla and some Chinese EV manufacturers.

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