Luxury sports car maker Ferrari has unveiled its first fully electric vehicle, the Luce, marking a major shift for the Italian brand as it enters the high-end EV market.
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The new model, priced at $640,000 (£474,320), is Ferrari’s first five-seater and departs sharply from the company’s traditional styling. The car was developed in collaboration with LoveFrom, the design agency founded by former Apple design chief Jony Ive.
Ferrari presented the Luce in Rome, with chief executive Benedetto Vigna saying the vehicle had taken five years to develop. The name Luce means “light” in Italian.
New Direction for Ferrari
The Luce represents a significant change in strategy for Ferrari, which had previously resisted producing fully electric vehicles and instead focused on hybrid models powered by petrol and electricity.
According to Ferrari, the car uses a company-made electric motor on each wheel, allowing it to accelerate from 0 to 60mph (96km/h) in roughly 2.5 seconds.
The company also said all major components are produced in-house, a move designed to ensure long-term servicing and protect the vehicle’s resale value.
Ferrari said it will continue manufacturing petrol and hybrid models alongside its new electric offering.
Mixed Reaction Online
The launch prompted divided reactions on social media, with some users criticising the design and Ferrari’s move into electric vehicles.
One post on X described the car as “straight to the junkyard trash”, while another claimed Ferrari had damaged its brand in the same way critics argued Jaguar had with its recent electric concept designs.
Others praised the Luce, with one commenter calling it an “absolute masterclass in design” and describing it as a “game changer”.
Ferrari’s chief design officer Flavio Manzoni acknowledged the new model could divide opinion. Speaking in an interview with YouTuber Cleo Abram, he said criticism was a natural part of innovation and predicted attitudes towards the design would improve over time.
EV Market Challenges
Ferrari’s move comes as several major luxury carmakers scale back electric vehicle ambitions amid slowing demand and increased competition.
Lamborghini has abandoned plans for a fully electric model and shifted its focus towards hybrids, citing weak demand for high-end EVs.
Meanwhile, Porsche has reduced its EV targets as it faces weaker sales in China and tariffs in the United States.
The wider automotive industry has also been affected by growing competition from Chinese manufacturers, which have expanded rapidly by producing cheaper electric vehicles at scale.
In the United States, carmakers including Ford Motor Company and Volkswagen have increased focus on petrol-powered vehicles as demand for EVs weakened and incentives for buyers were reduced under President Donald Trump.
Despite broader industry pressures, Ferrari remains Europe’s most valuable carmaker, supported by its strategy of producing highly exclusive vehicles.
However, the company’s shares have fallen more than 25% over the past year, reflecting a wider slowdown across the global luxury sector as inflation has weakened demand for expensive consumer goods.
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Adapted by ASEAN Now. Source 27 May 2026
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