ROME: Italian luxury carmaker Ferrari has unveiled its first fully electric model, the Luce, belatedly joining rivals like Porsche and Lamborghini to offer clean-energy driving thrills.

But the Luce — Italian for “Light” — has yet to win over investors, with Ferrari shares the worst performers on the Milan stock exchange on Tuesday, tumbling six percent following a presentation of the new vehicle in Rome.

Renowned for its powerful engines, the prestigious sports car manufacturer already sells nearly half of its cars in hybrid versions. Yet the brand with the prancing horse logo took several years before deciding to throw its hat into the all-electric ring.

The five-seat Luce — which analysts believe could be priced upwards of 700,000 euros ($815,000) — boasts a top speed of over 310 kilometres per hour (190 miles per hour), accelerating to 100 kph in 2.5 seconds, according to Ferrari.

With a massive 122 kWh battery, it offers a range of over 530 kilometres and weighs 2.26 tonnes. With fast charging, the vehicle can reach an 80 percent charge from 10 percent in 20 to 25 minutes, the company claims.

The car is only the second Ferrari model with four doors in the company’s history, after the Purosangue SUV, and the first five-seater for a brand better known for its sleek two-seaters.

“This new model carries into the future the values that make Ferrari instantly recognisable all over the world,” Ferrari chairman John Elkann said after presenting the car to Italian President Sergio Mattarella in Rome.

While the brand developed many of the components in-house, the Luce’s design was entrusted to the LoveFrom collective of Jony Ive, who designed many of Apple’s most iconic products, and industrial designer Marc Newson.

Published in Dawn, May 27th, 2026