Ferrari's Decade-Long Journey to Its First Fully Electric Car, the Luce
The Road to Ferrari's First Fully Electric Model
ROME, May 25 (Reuters) - Ferrari, renowned for its roaring V8 and V12 engines, is unveiling its first fully electric model, the Luce.
Here is a summary of how the Italian sports car maker got there after first using hybrid technology in its Formula One racing cars more than a decade ago.
Early Steps Towards Electrification
2014: Hybrid Powertrains in Formula One
Hybrid powertrains introduced in Formula One. Systems to recover kinetic energy when braking had been used since 2009.
Hybrid Innovations and Model Launches
May 2019: SF90 Stradale and Beyond
Ferrari launches 1,000 horsepower, 4WD SF90 Stradale, its first mass-produced hybrid. It had launched a limited series LaFerrari hybrid in 2013.
Further hybrid models are launched in the following years, including the 296 family, the 849 Testarossa and the limited edition F80 supercar costing €3.6 million ($4.2 million).
Leadership and Strategic Shifts
September 2021: New CEO to Drive Electrification
Benedetto Vigna, a physicist who spent 25 years at chipmaker STMicroelectronics, takes over as CEO to drive Ferrari's leap into electrification.
June 2022: Business Plan and Electrification Targets
Vigna presents his first multi-year business plan for Ferrari, including a pledge that by 2030 electric models would make up 40% of its line-up, after the European Union launched an effective 2035 ban on the sale of new petrol-engine cars. He targets 2025 for Ferrari's first fully electric model.
The Arrival of the Luce
June 2024: Details and Production Preparations
Reuters reports details of Ferrari's first electric car, with a price tag pegged at more than €500,000.
Ferrari inaugurates a new 'e-building' within its Maranello complex to make electric cars and parts for EVs, as well as hybrids and some traditional combustion-engine models.
May 2025: Launch Timeline Announced
Ferrari says its first EV will be launched through a three-stage unveiling process culminating with a world premiere in the spring of 2026. It adds deliveries to clients will start in October 2026.
June 2025: Second EV Delayed
Ferrari delays plans for second EV due out in 2026 to at least 2028, due to lack of demand for high-performance EVs, Reuters reports.
October 2025: Technology and Model Mix
Ferrari unveils technology to power its first electric car.
Sound Innovation and Model Strategy
The four-door, four-plus-seat car will have a specially designed sound system to amplify vibrations from its powertrain to create an electric Ferrari roar.
In a new business plan, Ferrari's revised model mix targets 20% EVs, 40% hybrids and 40% internal combustion engine (ICE) models for 2030 line-up. That compares with a 2022 target of 40% EVs, 40% hybrids and 20% ICE models.
February 2026: The Luce Name Revealed
Ferrari releases teaser images of first EV model, revealing its name as Luce - meaning light in Italian. LoveFrom, co-founded by former Apple designer Jony Ive, is involved.
Vigna says that Ferrari is opening pre-orders for the Luce in March, after "very positive" client feedback.
Additional Information
Financial Information
($1 = 0.8519 euros)
Reporting Credits
(Reporting by Giulio Piovaccari; Editing by Adam Jourdan and Alexander Smith)
