Ferrari unveiled its first fully electric car, the Luce, on Monday, May 26 [1, 2].

The launch marks a pivotal shift for the Italian luxury brand as it attempts to maintain a competitive edge among ultra-high-net-worth buyers. This move comes at a time when traditional rivals, including Porsche and Lamborghini, have begun to scale back their own electric vehicle ambitions [2, 5].

Co-designed with former Apple chief designer Jony Ive, the Luce is a five-seat model [1, 2]. The vehicle utilizes a sophisticated drivetrain featuring an electric motor on each of its four wheels [1, 4]. This configuration allows the car to accelerate from 0 to 100 km/h in 2.5 seconds [1].

On a full charge, the Luce offers a range of more than 329 miles [3].

Pricing for the new model varies by report. CNN said the price is $640,000 [2], while other reports cite figures as low as $586,000 [6] or £500,000 [3].

Ferrari is positioning the Luce as a blend of high-performance engineering and luxury design. By integrating four independent motors, the company aims to provide precise control and power delivery that aligns with its racing heritage, while transitioning away from internal combustion engines.

“Ferrari unveiled its first fully electric car, the Luce.”

Ferrari's entry into the fully electric market signals a commitment to electrification despite a broader industry trend where some luxury manufacturers are slowing their EV transitions. By partnering with Jony Ive and employing a quad-motor setup, Ferrari is betting that extreme performance and high-end design will sustain the brand's exclusivity in a post-gasoline era.