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    Ferrari unveils first electric supercar as luxury EV market slows

    Imran MalikBy 145 Comments3 Mins Read

    Ferrari has launched its first fully electric supercar, the Luce, entering the luxury EV market despite slowing global demand and growing caution among high-end rivals such as Porsche and Lamborghini.

    WEBDESK – MEDIABITES NEWS

    Ferrari has officially unveiled its first fully electric vehicle, the Luce, marking a historic moment for the legendary Italian automaker as the global luxury electric vehicle market faces slowing demand.

    The new EV was presented during a launch event in Rome on Tuesday. Named “Luce,” meaning “Light” in Italian, the model becomes Ferrari’s first all-electric production car and only the second four-door vehicle in the company’s history after the Purosangue SUV.

    According to Ferrari, the five-seat supercar can exceed speeds of 310 kilometers per hour and accelerate from 0 to 100 kph in just 2.5 seconds.

    The Luce is powered by a 122 kWh battery pack and offers a driving range of more than 530 kilometers on a single charge. Ferrari said the vehicle supports ultra-fast charging, allowing the battery to recharge from 10 percent to 80 percent within approximately 20 to 25 minutes.

    Industry analysts estimate the luxury EV could cost more than €700,000 after customization, placing it among the world’s most expensive electric production cars.

    Ferrari Chairman John Elkann described the vehicle as carrying “the values that make Ferrari instantly recognisable all over the world” while embracing a new era of technology and innovation.

    The Luce was also presented to Sergio Mattarella during a special ceremony.

    The vehicle’s design was developed in collaboration with LoveFrom, the creative collective founded by former Apple designer Jony Ive, alongside renowned industrial designer Marc Newson.

    Ferrari described the Luce as a futuristic “glass house” with hidden headlights and styling cues inspired by classic Ferrari models including the 360 Modena.

    Production will take place at Ferrari’s new factory in Maranello, with deliveries expected to begin later this year.

    Despite the excitement surrounding the launch, investors reacted cautiously. Ferrari shares fell more than six percent on the Milan stock exchange after the unveiling, reflecting concerns that demand for ultra-premium electric cars may remain limited.

    The launch comes as luxury brands including Porsche and Lamborghini slow down expansion of their EV plans amid cooling global interest in high-end electric vehicles.

    Ferrari itself recently scaled back its long-term electric ambitions, lowering its target for EVs to account for 20 percent of total sales by 2030, compared to an earlier goal of 40 percent.

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