Ferrari unveils first electric car 'Luce' as rivals hit the brakes on EV
Summary
Ferrari introduced its first fully electric car, called the Luce, with a top speed of 310 km/h and a range of over 530 km. This comes as some rivals like Porsche and Lamborghini slow down their electric vehicle plans due to weak customer demand. Despite the new model, Ferrari’s stock price dropped sharply after the announcement.Key Facts
- The Ferrari Luce is the company’s first fully electric car and seats five people.
- It has a top speed of over 310 km/h (190 mph) and can go more than 530 km on a full charge.
- The Luce uses a large 122 kWh battery and fast charging can reach 80% in about 20-25 minutes.
- The car is expected to cost over 700,000 euros ($815,000) after customization.
- Ferrari designed the Luce with input from well-known designers Jony Ive and Marc Newson.
- The car will be built in a new factory in Maranello, Italy, with first deliveries planned for late 2026.
- Ferrari’s stock price fell 6% after the Luce was unveiled, as investors are unsure about the profitability of an expensive electric model.
- Ferrari now expects electric vehicles to be 20% of its lineup by 2030, down from an earlier goal of 40%.
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