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Ferrari Unveils First Fully Electric Car, the $640,000 Luce
Published: 26 May 2026 | Source: Ferrari, LoveFrom, YouTuber Cleo Abram
ROME — Ferrari unveils first fully electric car — the $640,000 (£474,320) Luce at a launch event in Rome on Monday, marking the Italian luxury sports car maker’s entry into the all-electric market after half a decade of development. The five-seater, designed in collaboration with former Apple design chief Sir Jony Ive’s LoveFrom agency, departs from traditional Ferrari styling and represents the most significant strategic gamble in the company’s recent history. Chief executive Benedetto Vigna said the Luce, Italian for “light,” runs with a Ferrari-made electric motor on each wheel and can reach 60mph in approximately 2.5 seconds.
What Is the Ferrari Luce?
The Luce is Ferrari’s first fully electric vehicle, developed over five years with all components manufactured in-house. The company said this approach ensures the car can be repaired by Ferrari well into the future, protecting the Luce’s resale value, a critical consideration for Ferrari’s customer base.
The electric motor on each wheel helps the car achieve 0-60mph in around 2.5 seconds. As Ferrari’s first five-seater, the Luce departs significantly from the brand’s traditional two-seat sports car configuration.
Ferrari’s chief design officer, Flavio Manzoni, acknowledged the design was “polarising” in an interview with YouTuber Cleo Abram but expressed confidence that people would appreciate it in the months ahead Cleo Abram YouTube interview with Flavio Manzoni, 26 May 2026.
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A Divided Response
Social media reaction to the launch ranged from harsh criticism to high praise. One account on X posted: “Ferrari just killed their brand just like Jaguar did. This is straight to the junkyard trash.” Another wrote: “Absolute masterclass in design. Ferrari just unveiled the breathtaking LUCE concept.”
Manzoni told Cleo Abram that critics are part of the innovation process. His acknowledgment of the split reaction reflects the broader challenge facing luxury carmakers attempting to transition to electric powertrains without alienating traditional customers.
The response mirrors the criticism Jaguar faced for its electric concept car, which was heavily attacked for abandoning the British brand’s classic styling.
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An Industry-Wide Retreat from EVs
Ferrari’s launch comes as direct competitors have scaled back their electric ambitions. Lamborghini abandoned plans to launch all-electric cars, pivoting to hybrid models instead and citing low demand for high-end luxury EVs. Germany’s Porsche scaled back its EV plans due to weak demand, caught between poor sales in China and tariffs in the United States.
Mass-market manufacturers have also retreated. Carmakers, including Ford and Volkswagen, have doubled down on petrol cars, especially in the US, due to poor demand and regulatory changes under President Donald Trump, who has cut incentives for EV buyers. Western carmakers have also faced intense competition from Chinese manufacturers able to produce vehicles faster and more cheaply.
Ferrari is Europe’s most valuable carmaker. Its strategy of selling highly exclusive cars has shielded it from much of the pressure faced by mass-market rivals. However, Ferrari’s shares have dropped more than 25% over the past year, mirroring a wider slump across luxury brands as inflation has shaken demand for high-end goods.
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The Dual-Track Strategy
Ferrari will continue to offer petrol and hybrid cars alongside the Luce. The all-electric model is an addition to the portfolio rather than a replacement for combustion engines.
The strategy provides a hedge: if the Luce succeeds, Ferrari can claim leadership in the luxury EV transition. If demand proves soft, the petrol and hybrid lines can absorb the impact without threatening the company’s core business.
The collaboration with Jony Ive’s LoveFrom signals Ferrari views the Luce not simply as a car with an electric motor but as a luxury object that happens to be electric. The five-seat configuration and departure from traditional styling suggest a product aimed at customers who value the brand more than the engine note a proposition that remains untested for a company whose identity has been inseparable from its engine sound for eight decades.
FAQ: Ferrari Luce Electric Car 2026
How much does the Ferrari Luce cost?
The Ferrari Luce is priced at $640,000 (approximately £474,320).
How fast is the Ferrari Luce?
The Luce can accelerate from 0 to 60mph (96km/h) in approximately 2.5 seconds, powered by a Ferrari-made electric motor on each wheel.
Who designed the Ferrari Luce?
The Luce was designed in collaboration with LoveFrom, the creative agency founded by former Apple design chief Sir Jony Ive. Ferrari’s chief design officer, Flavio Manzoni, led the company’s internal design team.
Is Ferrari stopping production of petrol cars?
No. Ferrari will continue to offer petrol and hybrid cars alongside the all-electric Luce. The EV is an addition to the portfolio, not a replacement.
Why are other luxury carmakers retreating from EVs?
Lamborghini and Porsche have scaled back EV plans due to low demand for high-end luxury electric vehicles, weak sales in China, and US tariffs. Mass-market manufacturers have also faced intense competition from cheaper Chinese EV brands.
Written by the Business Desk, drawing on Ferrari’s Rome launch event, interviews with Flavio Manzoni, and social media reaction analysis. The desk has covered the automotive industry and the luxury goods sector for over 15 years.