Ferrari unveiled the Luce, its first fully electric car, a five‑seater priced at $640,000 that marks the company’s formal entry into all‑electric vehicles and a major design shift for the Italian marque. The model, developed over about five years with LoveFrom — the design agency co‑founded by former Apple design chief Sir Jony Ive — uses an electric motor at each wheel, reaches about 60 mph in roughly 2.5 seconds, and uses in‑house components Ferrari says will protect long‑term repairability and resale value.
Design and configuration
The Luce departs from typical Ferrari proportions as the brand’s first five‑seat layout and presents a new aesthetic shaped with LoveFrom.
Chief design officer Flavio Manzoni acknowledged the car’s polarising reception but said criticism is part of innovation and that public appreciation may grow over time.
Performance and engineering
Ferrari fitted the Luce with a Ferrari‑made motor on each wheel to deliver the claimed sub‑3‑second 0–60 mph performance.
The company says all major components are produced in‑house to ensure future repairability and to preserve resale value.
Pricing and positioning
Ferrari priced the Luce at $640,000 (about £474,320), positioning it as an ultra‑premium, limited‑volume EV offering.
The firm said it will continue selling petrol and hybrid models alongside this new all‑electric model.
Market reaction
Social‑media responses ranged from harsh criticism — calling the design a brand‑killing move — to strong praise describing the Luce as a design “masterclass.”
Ferrari’s executives framed mixed reactions as typical for a polarising concept and part of the product’s introduction process.
Industry context
Several high‑end rivals have moderated EV plans amid weak demand and competitive pressure: Lamborghini pivoted away from full EVs toward hybrids, and Porsche has scaled back EV ambitions due to soft sales in China and U.S. tariff dynamics.
Chinese automakers’ fast, lower‑cost production has intensified competition in the EV market.
Strategic implications
Ferrari remains Europe’s most valuable carmaker and relies on exclusivity to protect margins; the Luce represents a strategic choice to enter the all‑electric segment while keeping petrol and hybrid lines.
Shares in Ferrari have fallen more than 25% over the past year, reflecting broader softness in luxury demand amid global inflation.
Featured image credits: Enrico Carnemolla via Wikimedia Commons
For more stories like it, click the +Follow button at the top of this page to follow us.