Ferrari unveils electric Luce, priced at $640,000

In Short:
– Ferrari has launched its first fully electric car, the Luce, priced at $640,000.
– Mixed social media reactions followed, with Ferrari’s shares dropping over 8% after the reveal.

Ferrari has unveiled its first fully electric car, the Luce, priced at $640,000 (£474,320).The launch took place in Castel Gandolfo, Italy, where chair John Elkann presented the vehicle to Pope Leo, alongside company executives.

Electric debut

The Luce is Ferrari’s first five-seater model, developed in collaboration with the LoveFrom agency, founded by Sir Jony Ive.

Social media reactions were mixed, with some comments citing poor design while others praised its aesthetic.

Shares in Ferrari fell over 8% on the Milan stock exchange and more than 5% in New York following the launch.

Competitors like Lamborghini and Porsche have reduced their EV plans amid low demand and competition from Chinese brands.

Ferrari CEO Benedetto Vigna noted that the Luce has been in development for five years.

The vehicle represents a shift for Ferrari, which had previously focused on hybrid technology.

Vigna presented the car and its steering wheel to the Pope during the event, showcasing its significance.

Lewis and Charles revealed fully electric Ferrari Luce. pic.twitter.com/5HFrxjcOZJ

— La Gazzetta Ferrari (@GazzettaFerrari) May 25, 2026

Market response

As Ferrari enters the electric vehicle market, industry analysts will monitor its impact on the company and competition.

Future developments from Ferrari may indicate the direction of luxury EVs in the market.

The brand’s commitment to innovation remains critical as consumer preferences evolve.