Ferrari NV introduced its first all-electric vehicle on Monday, signaling a high-stakes transformation for the luxury sports car maker as rivals like Porsche and Lamborghini scale back their electric ambitions citing weak demand.

The four-door sedan, named "Luce" (meaning "light" in Italian), was developed with the assistance of former Apple design chief Jony Ive and his team LoveFrom. It is also Ferrari's first five-seater model.

Aimed at affluent family customers, the Luce offers comfortable seating, high-end technology features, and a 600-liter trunk. The highly anticipated model is priced at €550,000 ($640,000), with deliveries expected to commence in the fourth quarter of 2026.

"This is the result of five years of dedication," said CEO Benedetto Vigna during the presentation in Rome to over 200 journalists.

The Luce maintains the sensory appeal of traditional Ferraris by amplifying the natural vibration sounds of its electric powertrain. This move reflects Ferrari's bet on a trend where a generation raised in the era of technology and artificial intelligence, less attached to the iconic 12- and 8-cylinder engine heritage, will shift toward high-tech luxury electric vehicles.

"Within our customer base, there are many... still seeking a completely different experience to meet the needs of different life stages," said Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer.

Galliera added in his assessment of the car, "It is absolutely stunning." The vehicle is equipped with four electric motors—one for each wheel—delivering over 1,000 horsepower, a top speed exceeding 310 km/h, and remarkable agility despite a weight of over 2.2 tons.

Ferrari stated that the Luce offers a range of over 500 kilometers.

At the light-show unveiling, five Luce models were displayed in various finishes ranging from Ferrari red to white and light blue. Its larger body and glass-dominated, open design mark a departure from Ferrari's typically aggressive, powerful, and iconic sporty style.

The Luce's interior continues Ferrari's luxury tradition, featuring leather, glass, and anodized aluminum, and retains several physical control buttons. This approach differs from the fully digital, touchscreen-dominated design philosophy of Tesla and other electric vehicle manufacturers.