Ferrari unveils first fully electric car
Ferrari unveiled its first fully electric car, a $640,000 model called Luce. The launch comes as rivals retreat from EV plans and luxury demand weakens.
Intelligence analysis by GPT-5.4 Mini
Ferrari has revealed Luce, its first all-electric car and its first five-seater, priced at $640,000 and built with design input from LoveFrom, the studio founded by Sir Jony Ive. The move is notable because several rivals are pulling back from EVs as demand and competition shift.
Ferrari has made its first car that runs only on electricity. It is called Luce, and it is very expensive, like a super-fancy toy car for adults with a huge garage.
The car is special because Ferrari usually makes loud, fast cars that use fuel. This one is different, but Ferrari says it still feels like a Ferrari. It was also helped along by a design studio started by a man who once led Apple’s design team.
This matters because some car companies are slowing down on electric cars, while Ferrari is still trying. It is like when one kid in a race keeps running forward even though some of the others have started walking.
Analysis
Ferrari’s EV bet
Ferrari has introduced Luce, its first fully electric car, and put a very high price on it: $640,000. The company says the model took about five years to develop and marks a major step for a brand that had previously said it would focus on hybrid cars rather than go fully electric.
A different kind of Ferrari
Luce is also unusual for the company because it is its first five-seater. Ferrari says the design was created with help from LoveFrom, the agency founded by former Apple design chief Sir Jony Ive. The company describes the car as having electric motors on each wheel and says it can reach 60mph in about 2.5 seconds.
Why the launch stands out
Ferrari says the car’s components are made in-house so it can repair the vehicle well into the future, which the company argues should help protect resale value. The unveiling comes at a difficult moment for the wider EV market: rivals such as Lamborghini and Porsche have scaled back electric plans, while Ford and Volkswagen have leaned back toward petrol models in some markets. Ferrari is still selling petrol and hybrid cars alongside Luce, and its strategy of very exclusive cars has helped shield it from some pressure. Even so, its shares have fallen more than 25% over the past year, in a luxury sector hit by inflation and softer demand.
Key points
- Ferrari unveiled Luce, its first fully electric car, priced at $640,000.
- The model is Ferrari’s first five-seater and was developed with LoveFrom, founded by Sir Jony Ive.
- Ferrari says the car uses motors on each wheel and can reach 60mph in about 2.5 seconds.
- The launch comes as rivals like Lamborghini and Porsche scale back EV plans.
- Ferrari’s shares have fallen more than 25% over the past year amid softer luxury demand.
