Ferrari unveils its first all-electric car, the 4-door Luce

Ferrari presented its first fully electric car to reporters in Rome this week, a four-door, five-seater called the "Luce," developed with help from former Apple design chief Jony Ive and his collective LoveFrom.

The first models of the Luce, which means "light" in Italian, is set to be ready for delivery from the fourth quarter of 2026, with a price tag in the region of €550,000 (roughly $640,000). 

The launch comes at a testing time for carmakers and their electric mobility plans. Several manufacturers, Ferrari included, are paring back their targets for electrification — given factors like headwinds in the major US market, and fast-intensifying competition from domestic manufacturers in China.

That said, it also comes as the war in Iran and subsequent pressures on fuel prices act as a reminder of some of the upsides of EVs. 

How did observers and the market react? 

The initial reaction on the markets was one of skepticism. 

When trading reopened in Italy on Tuesday morning after the Pentecost or Whitsun bank holiday, Ferrari's share price almost immediately shed around 6% of its value, a loss in the region of €3.7 billion in market capitalization.

The stock more or less stabilized after the initial nosedive. 

However, at least judging by some of the social media hot takes, many people took exception more to the car's exterior styling and aesthetics than to its all-electric drivetrain or the strategic statement it may or may not represent for Ferrari. 

What did Ferrari say about the new Luce? 

Ferrari F1 drivers Lewis Hamilton and Charles Leclerc, just returned from Sunday's race in Montreal in Canada, unveiled the car at the event in Rome. 

The launch comes as Porsche, Honda, and to some extent Ferrari look to temper their targets for moving towards electric vehicles.

But as CEO Benedetto Vigna said, with the long R&D times in the industry, "it's the result of five years of work." 

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Still best known for sleek high-performance two-seaters with raucous multi-cylinder petrol engines, Ferrari is hoping its first ever five-seater with a generous boot (or trunk) will give it a chance to compete in markets like China, where EV use is already widespread and large combustion engine cars face heavy taxes. 

"In our client base there are many ... who are still looking for something completely different, ⁠to ​be used in different moments of life," Ferrari's chief marketing ​and commercial officer Enrico Galliera said. 

Vigna has also said he expects half of the Luce orders to come from new clients. 

What are the some of the Luce's performance figures?

Despite the 2.2 ton car's bulk, it still promises prancing horse performance, at least in a straight line and possibly in the corners as well. 

Four electric motors, one for each wheel, deliver more than 1,000 horsepower and also allow for variable power delivery to improve handling and cornering. 

Ferrari says the Luce will top out at 310 kilometers (192.6 miles) per hour. As with all EVs, straight-line acceleration is blistering, with the car able to reach 100 km/h in 2.5 seconds.

The massive 122 kWH battery, explaining a fair chunk of the car's weight, allows for a theoretical range beyond 500 kilometers, according to Ferrari. At a fast charing station, the carmaker says it can attain an 80% charge from 10% in between 20 and 25 minutes. 

Ferrari is trying to keep a traditional soundtrack, however, amplifying natural vibration sounds from its EV powertrain in a bid to offer more acoustics in the cockpit. 

The glass-led design seeks to allow in as much Luce, or light, as possible. But Ferrari has taken one more traditional carmaker approach in the battle with Tesla and several Chinese EV makers, favoring several physical controls and dials for the cockpit over the all-digital touchscreen-driven methods of some of the more modern competition. 

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Edited by: Dmytro Hubenko

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