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Ferrari Goes Electric: The Risky Luce Debut
25 May
Summary
- Ferrari has launched its first all-electric car, the Luce, a major gamble.
- The Luce combines luxury with electric performance but faces market uncertainty.
- Development involved Apple's design agency, LoveFrom, and cost over half a million dollars.
Ferrari has taken a significant gamble with the introduction of its first all-electric car, the Luce, unveiled near Rome. This five-seater represents a major investment for the Italian luxury automaker, which is navigating a landscape of hesitant luxury carmakers regarding electrification. Engineers have focused on ensuring the Luce can handle high-speed turns despite its substantial battery weight.
The development of the Luce, whose name means "light" in Italian, involved a collaboration with LoveFrom, the design agency founded by Jony Ive and Marc Newson. This partnership began five years ago under Chairman John Elkann and CEO Benedetto Vigna. Mr. Vigna, a physicist, acknowledges the Luce heralds a new era for Ferrari, expressing confidence in its client reception.
With a price tag exceeding 550,000 euros in Italy, the Luce aims to appeal to both eco-conscious buyers and performance purists. Ferrari has engineered a unique sound system using accelerometers to replicate engine growls. However, the car's range and design features, including four doors and ample trunk space, place it differently in the EV market.
The company's electrification targets have also seen adjustments, with a revised 20 percent all-electric lineup by 2030, down from a previous 40 percent target. This comes as the high-end EV market faces slowdowns, with other luxury brands scaling back their electric ambitions. Ferrari's stock experienced a significant fall following a disappointing growth forecast in October, underscoring the high stakes for the Luce.
