Jony Ive Designed Ferrari Luce Debuts With A $640,000 Price Tag And Interiors That Drift Apart From Tesla's Screen-Heavy Approach

Ferrari N.V. (NYSE:RACE) unveiled its first fully electric car Monday, presenting the four-door Luce, designed in collaboration with former Apple Inc. (NASDAQ:AAPL) design chief Jony Ive and his collective LoveFrom, as a high-stakes bet that wealthy buyers will embrace a battery-powered Ferrari even as rivals such as Volkswagen AG’s (OTC:VWAGY) Porsche and Lamborghini slow some EV plans because of softer demand.

Ferrari Bets On Electric Luxury

The Luce, Italian for "light," is Ferrari's first five-seater and aims to reach families with deep pockets through roomy seating, high-end technology and a 600-liter boot. Deliveries of the €550,000, or about $640,000, car are due to begin in the fourth quarter of 2026.

The car has four electric motors, one at each wheel, producing more than 1,000 horsepower. Ferrari said the Luce can top 310 kph, while its electric layout improves agility despite a weight of more than 2.2 tons. The company said the car has a range of more than 500 kilometers.

Luce Keeps Ferrari Feel Intact

Inside, Ferrari kept closer to its traditional luxury language than many EV makers. The Luce uses leather, glass and anodized aluminum, along with physical controls, a contrast with the screen-heavy interiors favored by Tesla Inc. (NASDAQ:TSLA) and some Chinese competitors.

"It's the result of five years of work," CEO Benedetto Vigna told more than 200 reporters in Rome, according to Reuters.

Ferrari said the Luce amplifies natural vibration sounds from its electric powertrain to preserve some of the visceral feel associated with its combustion-engine cars. Reuters described the vehicle as a wager that younger buyers raised on technology and artificial intelligence may prove less attached to Ferrari's 8- and 12-cylinder heritage.

Earnings Beat Supports EV Gamble

Reuters also notes that the luxury automaker sees opportunity in China, where EV adoption is widespread and large gasoline cars face heavy taxes.

The launch follows Ferrari's May 5 earnings beat. The company reported first-quarter revenue of €1.85 billion ($2.16 billion), net profit of €413 million ($480.5 million) and diluted EPS of €2.33 ($2.73), topping expectations, according to Benzinga Pro data.

Price Action: Ferrari shares were down 0.33% at $348.24 on Friday, sliding a further 0.35% to $347.02 in after-hours trading.

According to Benzinga Edge Stock Rankings, RACE boasts strong scores in Growth and Quality metrics but falls well short in the Value metric. The stock offers a favorable outlook for short-term performance.

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