Ferrari Unveils First EV, the Luce, with $640K Price Tag
Ferrari has unveiled its first fully electric production vehicle, the Ferrari Luce, marking a historic — and deeply controversial — shift for the legendary Italian marque. The five-door liftback sedan, designed in collaboration with former Apple design chief Jony Ive, starts at approximately $640,000 and represents the most radical departure from Ferrari’s combustion-engine heritage in the company’s 87-year history.
A New Chapter for Maranello
The Luce (Italian for “light”) was revealed to Italian President Sergio Mattarella at the Quirinale Palace in Rome on May 25, followed by a public unveiling on May 26. According to Ferrari’s official press release, the vehicle is the company’s first production EV, first five-seat model, and only its second four-door vehicle after the Purosangue SUV.
“With Ferrari Luce, we are once again redefining the limits of what is possible,” said Ferrari President John Elkann. “Today, we are not simply unveiling a new car, we are inaugurating a chapter that turns our vision into reality.”
Technical Specifications
The Luce is powered by four radial-flow permanent-synchronous electric motors — two at the front producing 282 hp and two at the rear producing 831 hp — for a combined output of 1,035 hp. The Car and Driver report confirms the car accelerates from 0-62 mph in 2.5 seconds and 0-124 mph in 6.8 seconds, with a top speed exceeding 193 mph.
An 880-volt, 122-kWh NMC battery from SK On provides an estimated WLTP range of 329 miles, with 350-kW DC fast charging capability. Despite a curb weight of nearly 5,000 pounds, Ferrari claims the Luce has the lowest drag coefficient of any roadgoing Ferrari in history.
Design Controversy
The Luce’s exterior and interior were shaped by LoveFrom, the creative collective founded by Jony Ive and Marc Newson, working alongside Ferrari’s in-house design team. The result has proven deeply divisive. Critics have compared the saloon-like silhouette to mainstream EVs, with Pierre-Olivier Essig, head of research at AIR Capital, describing it as a “mix between a Honda Accord EV and Tesla 3,” according to The Guardian.
Most dramatically, former Ferrari Chairman Luca Cordero di Montezemolo — who led the company through its 2015 IPO — publicly condemned the vehicle. “I hope they at least remove the Prancing Horse from that car,” he told reporters, adding that Ferrari is “risking the destruction of a myth.”
Ferrari CEO Benedetto Vigna defended the design in an interview with CNBC, saying: “When you do a new technology, you need always to keep in mind a word that is called respect. Respect of the technology, because when you have a new technology, you need to make sure that that technology is properly represented in the design, so the design must be different.”
Market Reaction
Investors responded with skepticism. Ferrari shares fell 5-8% in Milan trading on Tuesday, with analysts attributing the decline to a combination of “design hate” and a classic “sell the news” phenomenon following a significant run-up in anticipation. Michael Field, chief equity strategist at Morningstar, noted that “many fans are disappointed that Ferrari is embracing the EV concept, believing it dilutes the supercar brand.”
Anthony Dick, an auto analyst at Oddo BHF, called the stock response “by far the sharpest reaction we’ve seen for a car design — the market has spoken.”
Strategic Context
The Luce arrives at a challenging moment for luxury EV adoption. Rivals including Porsche, Lamborghini, and Aston Martin have scaled back their electric ambitions due to weak consumer demand. Ferrari itself revised its 2030 electrification targets in late 2025, now aiming for 20% fully electric, 40% hybrid, and 40% internal combustion models — down from an earlier goal of 40% EV.
Customer deliveries of the Luce are scheduled to begin in Q4 2026, with U.S. arrivals expected in the second quarter of 2027. The vehicle is assembled at Ferrari’s historic plant in Maranello, Italy, using a dedicated EV architecture with all components developed and manufactured in-house.
What’s Next
The central question facing Ferrari is whether the Luce will attract new customers to the brand or alienate its traditional enthusiast base. With its five-seat configuration and family-oriented design, the Luce targets ultra-wealthy households rather than sports car purists — a calculated bet that electrification demands a fundamentally different Ferrari. The market’s verdict, and that of the Ferraristi, will unfold over the coming months as the first examples reach customers.