Italy: Luxury sports car giant Ferrari has revealed its first fully electric vehicle, the $640,000 Ferrari Luce, marking a major shift for the iconic Italian automaker as it enters the EV era.
The new five-seater model, developed in collaboration with LoveFrom, the design agency founded by former Apple design chief Jony Ive breaks away from Ferrari’s traditional styling and performance formula. The company states that the Luce, meaning ‘light’ in Italian, has been in development for five years.
Presented in Rome by Ferrari CEO Benedetto Vigna, the electric supercar features four in-house-built electric motors, one powering each wheel. Ferrari claims the vehicle can accelerate from 0 to 60mph in approximately 2.5 seconds, putting it firmly in supercar territory despite its electric platform.
Ferrari also emphasised that every major component of the Luce has been produced internally, ensuring long-term serviceability and helping maintain the vehicle’s resale value.
Social media divided over radical design
The Luce’s futuristic appearance and departure from Ferrari’s signature design language have sparked heated debate online. Some critics compared the launch to the backlash faced by Jaguar after unveiling its controversial EV concept, accusing Ferrari of abandoning its heritage.
One social media user described the car as ‘straight to the junkyard trash,’ while another questioned what is going on with European luxury car manufacturers. However, supporters praised the design innovation, with some calling the Luce an absolute masterclass in design and a total game-changer for the luxury EV market.
Ferrari’s chief design officer, Flavio Manzoni, acknowledged that the project would divide opinion but argued that strong reactions are part of the innovation process. Flavio Manzoni said appreciation for the design could grow over time.
Ferrari moves into EVs as rivals pull back
Ferrari’s electric push comes at a time when several high-end automakers are slowing or reconsidering their EV strategies. Lamborghini recently shifted its focus back toward hybrid technology, citing weak demand for luxury EVs, while Porsche has scaled back electric ambitions with declining sales in China and tariff pressures in the United States.
The broader EV industry has also faced challenges from softer consumer demand, changing regulations, and increasing competition from Chinese automakers capable of producing vehicles faster and at lower costs.
Despite the uncertainty, Ferrari says it will continue offering petrol, hybrid, and electric models simultaneously as it adapts to evolving customer preferences.
Luxury market pressures continue
Although Ferrari remains Europe’s most valuable carmaker thanks to its strategy of producing highly exclusive vehicles, the company has not escaped the wider slowdown affecting luxury brands globally.
Ferrari shares have fallen more than 25 percent over the past year as inflation and economic uncertainty continue to impact demand for premium goods worldwide.
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