Luxury sports car manufacturer Ferrari has officially entered the electric vehicle segment with the unveiling of its first fully electric model, a high-priced supercar named “Luce,” priced at around $640,000 (£474,320). The launch marks a significant turning point for the Italian brand, which has long resisted a full shift away from combustion engines and has instead focused on hybrid technology in recent years.
The new model represents a striking departure from Ferrari’s traditional design language. It is also the company’s first-ever five-seater, developed in collaboration with the design agency LoveFrom, founded by former Apple design chief Sir Jony Ive. The partnership signals Ferrari’s attempt to merge high-performance automotive engineering with minimalist, tech-inspired design aesthetics that are more commonly associated with consumer electronics than supercars.
Ferrari chief executive Benedetto Vigna, speaking in Rome during the launch, said the Luce—meaning “light” in Italian—has been under development for nearly five years. He emphasized that the vehicle has been designed entirely in-house in terms of components, a move aimed at ensuring long-term serviceability and protecting resale value by allowing Ferrari itself to maintain and repair the car throughout its lifecycle.
The electric supercar is powered by a Ferrari-developed motor on each wheel and is capable of accelerating from 0 to 60 mph (96 km/h) in approximately 2.5 seconds, placing it firmly in the hypercar performance category despite its shift to electric propulsion.
The unveiling, however, has triggered sharply divided reactions online. While some users on social media described the design as a “masterclass” and a “game changer” for luxury automotive aesthetics, others harshly criticised it, with one post calling it “straight to the junkyard trash” and comparing Ferrari’s direction to the controversial reception of Jaguar’s recent electric concept designs. The polarised response reflects broader tensions within the luxury automotive sector over how traditional brands should evolve in the era of electrification.
Investor sentiment also appeared to react negatively to the announcement. On Tuesday, Ferrari’s shares fell more than 8% on the Milan Stock Exchange and more than 5% in New York trading, highlighting market concerns over demand for high-end electric vehicles amid slowing global luxury spending.
The unveiling comes at a time when several major competitors are reassessing their electric vehicle strategies. Lamborghini has already scaled back its ambitions for fully electric cars, instead prioritising hybrid models. Porsche has also moderated its EV rollout plans due to weaker-than-expected demand, particularly in key markets such as China and the United States.
Broader industry challenges are also shaping strategy shifts. Companies such as Ford and Volkswagen have adjusted their electrification timelines amid fluctuating consumer demand and changing regulatory incentives, including policy shifts under U.S. President Donald Trump, which have reduced certain EV purchase incentives.
Ferrari’s leadership maintains that the company will continue to offer petrol and hybrid vehicles alongside its new electric line-up, ensuring a gradual transition rather than a complete overhaul. Chief design officer Flavio Manzoni acknowledged that the new direction is “polarising,” but expressed confidence that public perception will evolve as the model becomes more familiar.
The launch also drew unusual attention when CEO Vigna presented the vehicle to Pope Leo, who reportedly sat inside the car and was shown its steering system during the event.
Despite Ferrari’s relatively strong positioning as Europe’s most valuable carmaker, the company has faced broader pressure in luxury markets, with its shares declining more than 30% over the past year. Analysts attribute this to global inflationary pressures and a cooling demand for high-end discretionary goods, even as Ferrari continues to rely on exclusivity and limited production to sustain its brand value.
The launch of the Luce therefore represents both a technological milestone and a strategic gamble, as Ferrari attempts to redefine performance luxury in an increasingly electric—but uncertain—automotive future.
