Ferrari presented its first fully electric car to reporters in Rome this week, a four-door, five-seater called the "Luce," developed with help from former Apple design chief Jony Ive and his collective LoveFrom.
The first models of the Luce, which means "light" in Italian, is set to be ready for delivery from the fourth quarter of 2026, with a price tag in the region of €550,000 (roughly $640,000), DW reported.
The launch comes at a testing time for carmakers and their electric mobility plans.
Several manufacturers, Ferrari included, are paring back their targets for electrification, given factors like headwinds in the major US market, and fast-intensifying competition from domestic manufacturers in China.
That said, it also comes as the war in Iran and subsequent pressures on fuel prices act as a reminder of some of the upsides of EVs.
The initial reaction on the markets was one of skepticism.
When trading reopened in Italy on Tuesday morning after the Pentecost or Whitsun bank holiday, Ferrari's share price almost immediately shed around 6% of its value, a loss in the region of €3.7 billion in market capitalization.
The stock more or less stabilized after the initial nosedive.
The launch comes as Porsche, Honda, and to some extent Ferrari look to temper their targets for moving towards electric vehicles.
But as CEO Benedetto Vigna said, with the long R&D times in the industry, "it's the result of five years of work."
