RACE debuts the Luce EV, targeting 20% of sales by 2030, as rivals retreat from electric supercar plans.
Ferrari launched its first all-electric vehicle, the Luce, marking a shift from its traditional combustion-engine supercars. The move comes as the company scales back earlier EV ambitions, now expecting electric models to account for 20% of sales, down from a prior 40% target. The second EV model has also been delayed until at least 2028.
The decision contrasts with rivals like Lamborghini, which canceled its 2030 EV plan, citing weak demand for electric supercars. Analysts warn the segment remains unproven, with Ferrari betting on pricing power to offset profitability risks. The Luce aims to preserve the brand’s emotional appeal despite battery-related trade-offs.
Ferrari’s stock faces scrutiny as investors weigh the potential of EVs against the company’s core heritage. The Luce’s reception could shape future product strategy in a niche market skeptical of electric adoption.