Ferrari NV is taking a bold leap into the electric era with the launch of its first EV, the Luce, priced at over €500,000, a move that will test the brand's ability to retain its iconic status without its signature combustion engine roar. The four-door model, whose name means "light" in Italian, represents a pivotal moment for the Maranello-based automaker as it navigates a market showing signs of hesitation toward high-performance electric vehicles.
"It's a risk and a bit of a bet," said Phil Dunne, a managing director at consultancy Grant Thornton Stax. "But it's a good thing to do because they are leading the way." The unveiling follows years of preparation, including the development of hybrid technology for its Formula One cars and the launch of hybrid road models since 2019.
The Luce enters the market at a time of growing uncertainty for electric sports cars. Ferrari has delayed a second EV model until at least 2028, and rival Lamborghini has pushed back its own electric debut, both citing lackluster demand. Ferrari has also adjusted its long-term strategy, now aiming for EVs to comprise 20% of its sales by 2030, down from an earlier projection of 40%. The remainder will be split between hybrid and traditional combustion engine models.
This strategic shift underscores the challenge for high-performance brands in transitioning to electric. The weight of batteries and the absence of a visceral engine sound are significant hurdles. To address this, Ferrari has developed a special sound system to amplify vibrations from the powertrain, aiming to create a distinct "electric Ferrari" experience. The company is betting that the Luce will attract a new generation of wealthy buyers, even as it continues to cater to its traditional clientele with gasoline and hybrid options. First deliveries are expected to start in October.
This article is for informational purposes only and does not constitute investment advice.
