Ferrari’s first electric car sparks investor concern as market racts cautiously

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KATHMANDU: Ferrari has officially revealed its first fully electric car, the Luce. The new EV is a four-door, five-seat grand tourer developed with LoveFrom, the design firm co-founded by former Apple design chief Jony Ive. Prices start from around $640,000 globally.

The Luce uses four electric motors producing a combined 1050hp and 990Nm torque. Ferrari claims 0-100kph in 2.5 seconds, a top speed of 310kph and an estimated driving range of 530km. The EV gets a 122kWh battery pack built in Maranello and operates on an 800V architecture.

Unlike traditional Ferraris, the Luce features a fastback-style design and a more practical five-seat cabin layout. Ferrari says the car was intentionally designed to look unconventional. It also becomes the largest Ferrari ever made, measuring over five metres in length.

Inside, the cabin takes a minimalist and retro-inspired approach. Physical buttons, aluminium trims and a movable 10-inch infotainment screen replace the large dashboard-wide displays seen in many modern EVs. Ferrari has also retained signature elements like the Manettino drive mode selector and a performance-focused steering wheel.

The Luce comes with three drive modes – Range, Tour and Performance. Ferrari has also added a unique sound system that amplifies vibrations from the electric components instead of simulating a traditional petrol engine note.

However, the design has already created mixed reactions globally. While some praised Ferrari for taking a bold and different approach, many enthusiasts and social media users criticised the styling, saying it does not look like a traditional Ferrari. Online discussions compared the design with mainstream EVs and questioned whether Ferrari buyers would fully accept an electric model.

The market reaction was also negative after the launch. Reports suggest Ferrari shares fell by around 6-7 percent following the unveiling, as investors raised concerns about demand for high-end electric supercars and the car’s radical design direction.

Ferrari’s first electric car sparks investor concern as market racts cautiously

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