Ferrari leaps into uncertain electric era with first EV

As its sports car rivals tap the brakes on a shift to EVs, Ferrari is leaping into an uncertain era with ⁠the launch of its first fully electric car, betting it ⁠can connect with drivers even without a throaty engine roar.

With a top speed of 310 kph (193 mph), Ferrari’s hotly awaited four-door Luce – meaning “light” in Italian – was presented in Rome on Monday.

The unveiling marks a high-stakes ⁠shift by the luxury sports car maker as competitors, including Porsche and Lamborghini, scale back their EV ambitions, citing weak demand.

Former Apple designer Jony Ive’s studio LoveFrom was involved in developing the Luce, which is also Ferrari’s first five-seater.

The Luce, which amplifies natural vibration sounds from its EV powertrain to maintain the visceral ⁠appeal ⁠of a traditional Ferrari, marks a gamble that a generation steeped in technology and AI, and less attached to its trademark 12- and 8-cylinder engine legacy, will shift to high-tech luxury EVs.

“It’s a risk and a bit of a bet,” said Phil Dunne, a managing director at consultancy Grant Thornton Stax. “But it’s a good thing to do because they are leading the way.”

Ferrari aims to appeal to families with deep pockets, offering them comfortable seats, high-end tech and a 600-liter boot. Deliveries of the long-awaited Luce, priced at 550,000 euros ($640,000), are due to begin in the fourth quarter of 2026.

This handout picture released by Italian automaker Ferrari shows the interior of the new fully electric Luce, May 25, 2026. (AFP Photo)

Monday’s unveiling caps years of preparation, from early hybrid Formula One systems more than a decade ago and road models since 2019.

“It’s the result of five years of work,” CEO Benedetto Vigna told more than 200 reporters gathered in Rome.

Ferrari has invested heavily in electrification under Vigna, including a new “e-building” at its legendary headquarters in Maranello, Italy.

Electric U-turns

The Luce comes at a time of doubts over electric sports cars.

Ferrari itself delayed plans for a second electric model to at least 2028 due to weak demand, Reuters has reported. And its Italian rival Lamborghini abandoned plans to roll out ⁠an electric ⁠model in 2030, citing a lack of customer interest.

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

“It’s absolutely stunning,” Galliera added of the car, which features four electric motors – one per wheel – which help deliver more than 1,000 horsepower and increased agility for a car weighing more than 2.2 tons.

This handout picture released by Italian carmaker Ferrari shows the new fully electric Luce revealed in Rome, Italy, May 25, 2026. (AFP Photo)

Felipe Munoz of Car Industry Analysis said Ferrari does not expect the Luce to be a big seller, but rather a statement as Chinese rivals lead the world in developing flashy new EVs.

BYD has developed the Yangwang U9, an electric supercar that can jump and dance.

“You might not need to have an EV supercar right now. But electrification is here for the long run, and Ferrari needs to make a move – it must define what luxury electrification looks like before someone else does,” Munoz said.

Ferrari’s challenge is preserving its identity with an entirely new technology as legacy high-performance brands struggle with the limitations of batteries, which ⁠are heavy and lack the sustained power and visceral appeal of petrol engines.

Ferrari ⁠said the ‌Luce ‌has a range of over 500 kilometers.

“The three things everybody always associates with Ferrari are how it looks, how it sounds, and how it feels,” said Grant Thornton Stax’s Dunne, adding that going electric means “they have to get those right in a different way.”

Ferrari has scaled back its electrification targets. Fully electric cars should make up 20% of its ⁠lineup by 2030, ‌down from a ‌previous goal of 40%. The automaker will also continue making hybrid and traditional internal ⁠combustion engine models.

Expanding client reach

Monday’s light ⁠show launch featured five Luces, painted from Ferrari-red ‌to white and light blue, which mark a break from the carmaker’s aggressive, muscular, signature sporty style with a larger ⁠body and expansive, glass-led design.

This handout picture released by Italian carmaker Ferrari shows the new fully electric Luce, May 25, 2026. (AFP Photo)

The Luce interior ⁠defers to traditional Ferrari luxury, with leather, glass and anodised aluminium surfaces ⁠as well as several physical controls which differ from the all-digital, touch-led approach of Tesla and some Chinese EV makers.

The Luce could help Ferrari reach the ‌next generation of wealthy buyers who are more open to EVs, while high petrol prices due to the Iran war also add to the appeal of electric.

CEO Vigna said in February that ⁠Ferrari would open pre-orders for the Luce in March after “very positive” initial client feedback.

And while ⁠not all Ferrari fans will be won over, the carmaker hopes a younger generation will want to own one, ⁠while its traditional ultra-wealthy buyers will still want a Ferrari EV in their garage or on their drive.

“It certainly won’t appeal to all of Ferrari’s customer base,” Dunne said. “But it will appeal to some.”

DAILYSABAH