See Photos As Ferrari Unveils First Fully Electric Car

Ferrari has unveiled its first fully electric car.

NewsRain Nigeria reports that Luxury sports car maker Ferrari has unveiled its first fully electric model, the Luce, joining rivals like Porsche and Lamborghini to offer clean-energy driving thrills.

The Luce, Italian for “Light”,  has a top speed of over 310 kilometres per hour (190 mph) and a range of over 530 kilometres, the company said in a statement late Monday.

The new model departs from the look of typical Ferraris as the Italian brand’s first-ever five-seater, created in collaboration with the LoveFrom agency founded by former Apple design chief Sir Jony Ive.

Responses on social media to the launch have ranged from describing it as “straight to the junkyard trash” to an “absolute masterclass in design”.

READ ALSO: Itsekiri Youths Assaulted At INEC Protest, As Coalition Rejects Warri Ward Boundary Plan

Supercar rivals like Lamborghini and Porsche have scaled back on their EV plans due to poor demand and intense competition from Chinese brands.

Ferrari chief executive Benedetto Vigna said in Rome that the Luce, Italian for “light”, has taken half a decade to develop.

Ferrari plans to roll out the electric vehicle (EV) after previously ruling out such a move, opting instead to make hybrid cars that are powered by both petrol and electricity.

The Luce runs with a Ferrari-made electric motor on each wheel, helping the car to hit 60mph (96km/h) in around 2.5 seconds.

The firm said that all of the components are made in-house, so that the car can be repaired by the company well into the future, protecting the Luce’s resale value.

The shift by motor industry giants to EVs has faced major obstacles in recent years.

Carmakers, including Ford and Volkswagen, have doubled down on petrol cars, especially in the US, due to poor demand and regulatory changes under President Donald Trump, who has cut incentives for EV buyers.

The launch of Jaguar’s electric concept car was heavily criticised for abandoning the British brand’s classic styling.

Ferrari’s chief design officer, Flavio Manzoni, said in an interview with YouTuber Cleo Abram that critics are part of the innovation process.

He acknowledged the concept of an electric Ferrari with a new design is “polarising” but believes people will appreciate it in months to come.

Ferrari has also said it will continue to offer petrol and hybrid cars along with its all-electric vehicle.
Meanwhile, Ferrari’s direct competitors have rolled back their EV ambitions.

Lamborghini abandoned its plans to launch all-electric cars, pivoting to hybrid models instead, citing low demand for high-end luxury EVs.

Germany’s Porsche has scaled back its EV plans due to weak demand, caught between poor sales in China and tariffs in the US.

Western carmakers have also faced intense competition from Chinese carmakers, which are able to produce vehicles faster and more cheaply.

Ferrari is Europe’s most valuable carmaker. It relies on selling highly exclusive cars – a strategy that has helped to shield Ferrari from much of the pressure faced by rivals.

Yet Ferrari’s shares have dropped by more than 25% over the past year, mirroring a wider slump across luxury brands as inflation around the world has shaken demand for high-end goods.

The launch comes as other luxury car makers have hit the brakes on electric models, mirroring an industry-wide slowdown in the shift away from combustible engines because of lower-than-expected demand.

Last year, Ferrari said it expected electric models to account for 20 per cent of the company’s offering in 2030, down from its previous target of 40 per cent.