Ferrari unveils first electric car 'Luce,' betting on luxury EV demand despite industry slowdown and investor doubts
Ferrari has unveiled Luce, its first fully electric vehicle, marking a major shift for the Italian luxury automaker as it bets on a still-uncertain market for high-end EVs. The five-seat model represents one of the company’s boldest and riskiest product launches in decades, arriving as the broader luxury auto industry reassesses aggressive electrification timelines amid slowing demand and rising costs.
Engineers say Luce is designed to deliver Ferrari-level performance despite its heavy battery architecture, which adds significant weight to the chassis. The vehicle uses a layout of multiple electric motors and a floor-mounted battery system intended to preserve handling at high speeds, while still aiming to reach top-tier performance metrics associated with the brand.
The car’s design and development were shaped in part through a collaboration with a design firm founded by former Apple design chief Jony Ive and industrial designer Marc Newson. Ferrari leadership began exploring the project several years ago, as the company expanded its long-term electrification strategy under its current executive team.
Interest in the model is building ahead of its official order launch, with pricing in Europe expected to exceed 550,000 euros. Company executives say early customer engagement has been strong, though analysts caution that the true test will come once deliveries begin, and real-world demand becomes clear.
Luce also introduces new approaches to the brand’s traditional driving experience, including a system intended to recreate engine-like feedback using sensors that amplify mechanical vibrations and motion. Even so, the absence of Ferrari’s signature combustion engine sound and the shift to a fully electric platform raise questions about how traditional enthusiasts will respond.
The launch comes at a time when Ferrari and other luxury automakers are recalibrating their EV ambitions. Industry-wide, several companies have delayed or scaled back electrification plans as demand for premium electric vehicles has cooled and global economic pressures mount.
Ferrari itself has adjusted its long-term targets, now expecting a smaller share of its lineup to be fully electric by 2030 than previously projected, while maintaining its commitment to hybrid models. Despite recent market skepticism and volatility in its share price, company leadership continues to express confidence that demand for high-performance electric luxury vehicles will emerge over time.
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