Ferrari has taken a giant step into electric cars with the launch of the Luce. This is their first fully electric vehicle, and it’s unlike anything the brand has built before. The Luce is a four-door, five-seat electric hatchback, a big shift from Ferrari’s usual two-seat sports cars.

Priced at €550,000, the Luce is the most expensive production electric car in the world. Its price tag is about three to four times higher than rivals like the Porsche Taycan or Mercedes EQS. Despite the cost, the car packs serious power. It features four electric motors—one for each wheel—and delivers over 1,000 horsepower. Ferrari claims it can sprint from zero to 60 mph in under 2.5 seconds and reach a top speed over 310 km/h.

Underneath, the Luce uses a 122 kWh battery, offering a driving range of more than 530 kilometers. An 800-volt charging system can recharge the battery from 10% to 80% in around 18 minutes. Ferrari also developed 60 patents around the car’s battery, motors, and torque control.

The Design That Divides

The biggest story isn’t the specs, though. It’s the look. The Luce’s design marks a sharp break from Ferrari’s traditional style. It has a tall, cab-forward shape with a large glass roof and smooth surfaces. Fans and critics quickly compared it to everyday cars and tech gadgets. Some joked it looked like a “luxury toaster” or a “minivan made by an Apple Store.”

The car was co-designed with Jony Ive’s LoveFrom studio and industrial designer Marc Newson. Ive, famous for shaping Apple’s sleek hardware, brought a minimalist approach. Inside, the Luce has no touchscreens. Instead, it uses physical controls and analogue-style dials. The center console is made of Corning Gorilla Glass, and the steering wheel is crafted from recycled aluminum. About 70% of the car’s weight comes from recycled materials to cut carbon emissions.

This new style is a gamble. Ferrari has built its reputation on aggressive, low-slung sports cars with roaring engines. The Luce is heavier than any Ferrari before, tipping the scales over 2.2 tons. It’s a four-door family car that challenges what people expect from the brand.

Market Reaction and Strategy

The unveiling shook Ferrari’s stock. Shares fell as much as 7% the day after the reveal, wiping billions off the company’s market value. Investors seem skeptical about the design and Ferrari’s move into electric vehicles. Some analysts called it the sharpest stock drop ever linked to a car design reveal. The timing is tricky as luxury competitors pull back from electric plans. Lamborghini canceled its electric model, citing emotional connection issues with EVs. Porsche is cautiously pushing ahead but faces market uncertainty.

CEO Benedetto Vigna framed the Luce as a new start, not just an electric version of an old car. Ferrari built a new factory wing dedicated to electric and hybrid production. This car targets a new generation of buyers, especially in markets like China, where electric vehicles are common and gas cars face heavy taxes. Ferrari hopes the Luce will open doors to younger, tech-savvy customers who want luxury with electric power.

Despite mixed reactions, Ferrari expects limited production and long waiting lists, following its usual exclusivity model. The company aims to prove that an electric Ferrari can keep the brand’s soul—speed, luxury, and driving thrill—even without a combustion engine’s sound.

To make the driving experience feel more like a traditional Ferrari, engineers developed a unique sound system. It uses accelerometers and electromagnetic tuning to amplify vibrations from the electric motors, creating a distinct Ferrari electric roar. There’s also a system mimicking engine braking to keep the feel of classic driving.

Ferrari’s bet is clear: it wants to lead the high-end electric car market, even as some rivals retreat. The Luce challenges tradition and pushes the brand into a new era. Whether it succeeds depends on how customers embrace this radical change.