Shares in Ferrari N.V. (BIT:RACE) dropped more than 6% in Milan trading on Tuesday after the company introduced the Luce, its first fully electric vehicle, which carries a starting price of €550,000 and is scheduled for customer deliveries from the fourth quarter of 2026.
Ferrari unveils first fully electric model
The Luce is a four-door, five-seat performance car created in collaboration with LoveFrom, the design studio led by former Apple design chief Jonathan Ive.
Ferrari chief executive Benedetto Vigna described the project as “the result of five years of work” and said it sits “at the heart of an ecosystem of collaborations with outstanding technology partners.”
The model uses four electric motors, one powering each wheel, producing more than 1,000 horsepower. Ferrari said the vehicle can exceed 310 kilometres per hour and offers a driving range of more than 500 kilometres.
The car weighs over 2.2 tonnes and is built around a 122kWh battery pack using an 800-volt architecture. Ferrari added that more than 60 new patents were submitted during the vehicle’s development.
Ferrari targets new customer base with EV strategy
According to Ferrari, a significant proportion of Luce buyers are expected to be customers new to the marque.
Chief marketing and commercial officer Enrico Galliera called the car “absolutely stunning” and said it was designed for clients “who are still looking for something completely different, to be used in different moments of life.”
The company also signalled plans to expand further in markets including China, where electric vehicles are already widely adopted and large petrol-powered vehicles are subject to high taxation.
Luxury interior combines technology with physical controls
The cabin was developed alongside LoveFrom and long-time Apple supplier Corning Incorporated. Features include a dashboard machined from a single block of aluminium, a glass centre console produced by Corning and a 21-speaker sound system delivering 3,000 watts through Ferrari-developed software.
Ferrari retained traditional physical controls within the cabin, differentiating the Luce from rivals that rely more heavily on touchscreen-based interfaces.
Lightweight construction and new engineering platform
Ferrari said 75% of the Luce’s chassis is made from recycled aluminium, while the car’s centre of gravity sits 95 millimetres lower than the Purosangue SUV.
Head of vehicle engineering Matteo Lanzavecchia stated that “95 per cent of the components are new.”
The company also confirmed it will continue offering models powered by six-cylinder, eight-cylinder and V12 combustion engines alongside the new electric range.
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