The long road to Ferrari’s first electric car

§ 01 Executive Snapshot

• What: Ferrari is unveiling its first fully electric car, the Luce, marking a significant shift in its product lineup.
• Who: Key players include Ferrari CEO Benedetto Vigna, former Apple designer Jony Ive, and the engineering team at Ferrari.
• Why it matters: This transition to electric vehicles (EVs) reflects broader automotive industry trends towards electrification and sustainability, coinciding with regulatory changes in Europe.

§ 02 Key Developments

• Ferrari's first electric model, the Luce, will be launched through a three-stage unveiling process culminating in a world premiere in spring 2026.
• The price of the Luce is expected to exceed €500,000, reinforcing its position as a luxury electric vehicle.
• By 2030, Ferrari plans to have 20% of its lineup as EVs, down from an earlier target of 40%, with a revised mix of 40% hybrids and 40% internal combustion engine models.

§ 03 Strategic Context

• Ferrari has been integrating hybrid technology since 2014 in Formula One, indicating a long-standing commitment to advanced powertrains before fully embracing electrification.
• The automotive market is rapidly evolving, driven by regulatory pressures, such as the European Union's 2035 ban on new petrol-engine car sales, necessitating a shift in Ferrari's product strategy.

§ 04 Strategic Implications

• The launch of the Luce positions Ferrari to compete in the high-performance EV market, which is becoming increasingly important as consumer demand for electric vehicles grows.
• Ferrari's revised business plan suggests a cautious approach to EV adoption, reflecting potential market uncertainties and consumer preferences in the luxury segment.

§ 05 Risks & Constraints

• Potential risks include regulatory challenges and market acceptance of high-performance electric vehicles, which may impact sales forecasts.
• Competition from other luxury automakers venturing into the EV space could pose a threat to Ferrari's market share and brand prestige.

§ 06 Watchlist / Forward Signals

• Key milestones to watch include the unveiling of the Luce in spring 2026 and the start of customer deliveries in October 2026.
• The response to pre-orders opening in March 2026 will be a critical indicator of market demand for Ferrari's first electric vehicle.