Ferrari is taking a bold leap into an uncertain electric era with the launch of its first fully-electric car, the Luce, on Monday. Priced at over €500,000, the four-door coupe boasts a top speed of 310 kph and marks a strategic bet on electrification even as rivals pump the brakes.
Former Apple designer Jony Ive's LoveFrom studio contributed to the Luce's design, which sources describe as a large car with a look distinct from Ferrari's usual models.
CEO Benedetto Vigna has heavily invested in electrification, opening a new 'e-building' in Maranello. First deliveries begin in October.
The launch comes amid industry doubts. Ferrari itself delayed a second EV model to at least 2028 due to weak demand, and Lamborghini scrapped its 2030 EV plans. Analysts say the Luce is a statement against Chinese rivals like BYD's Yangwang U9, defining luxury electrification before competitors do.
Ferrari's challenge is preserving its identity. The Luce features a specially designed sound system that amplifies powertrain vibrations to create a distinct electric Ferrari sound instead of fake engine noise. The company now expects EVs to make up 20% of its lineup by 2030, down from 40%.
The Luce aims to attract a younger generation of wealthy buyers open to EVs, while traditional ultra-wealthy collectors may still want one in their garage.