Ferrari unveils $640,000 electric car Luce amid mixed social media reactions and falling shares in Europe and U.S.
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.
