The Long Road to Ferrari's First Electric Car: Luce Arrives After a Decade of Hybrid Evolution

Ferrari (RACE), renowned for its roaring V8 and V12 engines, is unveiling its first fully electric model, the Luce — meaning "light" in Italian. The journey from hybrid experimentation to the brand's first EV spans more than a decade, reflecting both technological evolution and shifting market realities.

Timeline of Ferrari's Electrification Journey

2014 – Hybrid powertrains introduced in Formula One. Systems to recover kinetic energy when braking had been used since 2009.

May 2019 – Ferrari launches the 1 000-horsepower, 4WD SF90 Stradale, its first mass-produced hybrid. A limited-series LaFerrari hybrid had been launched in 2013. Further hybrid models followed, including the 296 family, the 849 Testarossa, and the limited edition F80 supercar costing €3.6 million ($4.2 million).

September 2021 – Benedetto Vigna, a physicist who spent 25 years at chipmaker STMicroelectronics, takes over as CEO to drive Ferrari's leap into electrification.

June 2022 – Vigna presents his first multi-year business plan, pledging that by 2030, electric models would make up 40% of Ferrari's line-up, following the EU's effective 2035 ban on new petrol-engine car sales. He targets 2025 for Ferrari's first fully electric model.

June 2024 – Reuters reports details of Ferrari's first electric car, with a price tag pegged at more than €500 000. Ferrari inaugurates a new 'e-building' within its Maranello complex to manufacture electric cars and parts, as well as hybrids and some traditional combustion-engine models.

May 2025 – Ferrari announces its first EV will be launched through a three-stage unveiling process culminating with a world premiere in the spring of 2026. Deliveries to clients are scheduled to start in October 2026.

June 2025 – Ferrari delays plans for a second EV originally due in 2026 to at least 2028, citing lack of demand for high-performance EVs, Reuters reports.

October 2025 – Ferrari unveils technology to power its first electric car. The four-door, four-plus-seat car features a specially designed sound system to amplify vibrations from its powertrain to create an electric Ferrari roar. In a revised business plan, Ferrari targets a model mix of 20% EVs, 40% hybrids, and 40% internal combustion engine (ICE) models for its 2030 line-up, a significant shift from the 2022 target of 40% EVs, 40% hybrids, and 20% ICE models.

February 2026 – Ferrari releases teaser images of the first EV model, revealing its name as Luce. LoveFrom, co-founded by former Apple designer Jony Ive, is involved in the design. Vigna says Ferrari is opening pre-orders for the Luce in March after "very positive" client feedback.

Market Sentiment:

The sentiment is cautiously optimistic, reflecting Ferrari's pragmatic adaptation to market realities while preserving its luxury brand positioning. The shift from 40% EV targets to 20% acknowledges that the high-performance EV market has not developed as quickly as anticipated — a prudent recalibration rather than a failure of ambition. The Luce's €500 000-plus price point ensures exclusivity and protects Ferrari's margins, while the collaboration with Jony Ive's LoveFrom signals that design and emotional appeal remain central. The specially engineered sound system to create an "electric Ferrari roar" addresses one of the core criticisms of EVs among enthusiasts: the lack of auditory drama. The delayed second EV (now targeted for 2028) suggests Ferrari is watching market demand carefully before committing further capital. For the broader automotive industry, Ferrari's measured approach — hybrid first, then a high-priced EV, then scaling based on demand — offers a template for luxury brands transitioning from combustion engines. Rising gasoline prices, while not directly impacting Ferrari's wealthy customer base, could accelerate broader EV adoption trends, but Ferrari's clientele is less price-sensitive than mass-market buyers. The key risk is that the Luce fails to capture the emotional connection of Ferrari's traditional models, which would damage brand equity. However, the extended development timeline and attention to sensory details (sound, vibration) suggest Ferrari has thought deeply about this challenge. For investors, Ferrari's maintained profitability and careful EV rollout provide a smoother transition path than mass-market automakers facing steeper capital requirements and margin compression. The Luce will not sell in large volumes, but it will define whether Ferrari can translate its combustion-era magic into the electric era. The pre-order opening, in March, will be the first real test of client appetite.

Disclaimer:
This content has been generated using AI technology and is intended for informational purposes only. While efforts have been made to ensure accuracy and relevance, this text should not be considered professional advice or an official statement. Always verify information from authoritative sources before making any decisions. This is not financial advice.