Ferrari has unveiled its first fully electric car, marking a major shift for one of the world’s most famous performance brands.

The new model, called the Ferrari Luce, was revealed in Rome on Sunday. It is a five-seat electric vehicle priced at €550 000, about R10.46 million.

The launch is a big moment for Ferrari, a company built on powerful fuel-burning engines and the emotion of driving.

The Luce delivers the equivalent of just over 1 000 horsepower. It can reach 100km/h in 2.5 seconds and has a top speed of more than 310km/h.

That makes it quicker than Ferrari’s V12-powered Purosangue SUV.

A test for Ferrari’s future

The Luce arrives as Ferrari tries to balance electric technology with the petrol and hybrid models that still sit at the heart of its brand.

Ferrari’s 2030 plan expects fully electric cars to make up 20% of its lineup. Fuel-burning models are expected to account for double that share.

The company has said it will continue offering customers a choice between internal combustion, hybrid and electric powertrains.

For Ferrari, the Luce is not just another EV. It is a test of whether the brand can keep its exclusivity, high pricing and emotional pull without the roar of a combustion engine.

Executive Chairman John Elkann told journalists the Luce was “not a response to change”.

“It is a deliberate decision to lead what comes next,” he said.

Luxury, scarcity and big performance

Ferrari is keeping the Luce firmly in luxury territory.

The price suggests the carmaker is not chasing mass-market EV buyers. Instead, it is sticking to its model of limited supply, long waiting lists and strong pricing.

Buyers were able to start placing orders from Monday.

Ferrari produces fewer than 14 000 cars a year, far below high-volume automakers. That scarcity has helped protect the brand from some of the pressure facing larger European carmakers.

Designed to feel like a Ferrari

The Luce was developed with Sir Jony Ive and Marc Newson at LoveFrom.

Its design includes smooth surfaces, reduced detailing and a glass-heavy body that Ferrari described as a “glass house”.

The electric platform also allowed Ferrari to add five seats for the first time. The Luce will have a 600-litre boot, enough for two golf bags or three large suitcases.

Sound remains a key challenge. Ferrari said it spent five years and 40 000km of track testing to create the car’s acoustic character.

Instead of copying a petrol engine, the Luce captures the hum of its electric motors, then processes and amplifies it.