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 , are 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. The back end with its quartet of circular lights is said to be an homage to models like the 360 Modena, although some of the snap reviews of the looks left a little to be desired Image: Ferrari/Handout/REUTERS 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. 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." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 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.

Key points

• 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 man…
• 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.
• The back end with its quartet of circular lights is said to be an homage to models like the 360 Modena, although some of the snap reviews of the looks left a little to be desired Image: Ferrari/Han…
• 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 bil…