The Ferrari Luce EV has officially arrived, marking a historic moment for one of the most iconic names in automotive history. On Tuesday, Ferrari presented its very first fully electric vehicle to Italy’s President and even to Pope Leo XIV himself. But despite the high-profile debut and prestigious blessings, the launch has been met with a cooler response from auto critics, investors, and online enthusiasts.

A Royal Unveiling in Castel Gandolfo

Ferrari president John Elkann personally showcased the Luce to Pope Leo XIV at the pontiff’s summer residence in Castel Gandolfo, just outside Rome. The moment quickly became one of the more memorable product launches in recent memory.

In a light exchange, the Pope reportedly asked Elkann whether the Luce was Ferrari’s first four-door vehicle. Elkann corrected him with a smile — it’s actually the brand’s first five-seater. Pope Leo even sat behind the wheel as Ferrari test driver Raffaele De Simone walked him through the steering controls.

The name Luce, meaning “light” in Italian, hints at Ferrari’s intention to position this car as a beacon for the brand’s electric future.

What the Luce EV Brings to the Table

The Luce isn’t just symbolic — on paper, it’s a serious performance machine. Ferrari has packed its first EV with specs that match the brand’s racing pedigree.

Key features of the Luce EV include:

• 1,000 horsepower of total output
• 0 to 100 km/h (60 mph) acceleration in just 2.5 seconds
• A driving range of over 530 kilometers (329 miles)
• Four electric motors, one powering each wheel
• Seating for five passengers, a first for Ferrari

The reported price tag in Italy sits at a staggering 500,000 euros, making it one of the most expensive production EVs ever offered. Ferrari has not yet announced U.S. pricing.

Markets Hit the Brakes

Despite the dramatic unveiling, Wall Street and Milan investors weren’t impressed. Ferrari shares dropped sharply following the announcement.

• Ferrari stock fell 8.4% in Milan trading
• U.S.-listed shares declined 5.3%

The reaction reflects growing investor caution around luxury EVs at a time when even established electric brands are struggling to maintain momentum. Ferrari itself recently scaled back its electrification targets, lowering its goal from 40% to just 20% of its lineup being fully electric by 2030.

Elkann, however, remains optimistic. He framed the Luce as more than just a new product, calling it the start of a new chapter that reinforces Ferrari’s tradition of shaping the future of automotive design and engineering.

Critics Question Ferrari’s Design Choices

Beyond the financial response, critics and enthusiasts have raised eyebrows over the Luce’s appearance. Many feel the car drifts away from the sleek, low-slung silhouette that has defined Ferrari for decades.

Matt Prior, editor-at-large at UK-based Autocar, noted that the internet hasn’t exactly fallen in love with the car. While he praised the well-crafted interior, he admitted the exterior doesn’t immediately scream Ferrari. He explained that EV architecture creates a fundamental design challenge — without an engine bay and with a battery pack sitting under the floor, the car naturally appears taller and less aerodynamic in profile.

For a brand built on dynamic, low-profile sports cars, that’s a tougher transition than it might be for other automakers.

Robby DeGraff, manager of product and consumer insights at AutoPacific, went even further. He described the Luce as possibly the most controversial vehicle to ever wear the famous prancing horse badge. He also questioned whether a car at this price point truly fits the current EV landscape, though he acknowledged Ferrari may need to launch electric models to comply with tightening emissions rules in key markets.

A Tough Time for Luxury EVs

The Luce arrives at a complicated moment for the global EV industry. While electric car sales reached 20 million worldwide last year — meaning one in four new cars sold globally was electric — momentum is uneven across regions.

Some notable trends include:

• European EV sales jumped over 30% in 2025
• Chinese automakers are flooding Europe with affordable, tech-loaded EVs
• The U.S. market remains unpredictable due to shifting government policies
• Multiple global automakers have scaled back electrification plans after losing billions

The European Union is pushing forward with a mandate requiring a 90% reduction in tailpipe emissions by 2035, which puts pressure on legacy brands like Ferrari to electrify regardless of consumer enthusiasm. Yet experts argue that much of today’s EV growth is being driven by regulation rather than genuine consumer demand.

As Prior put it, the electric car market isn’t quite where it could be, and policy continues to play a larger role than organic interest.

The Road Ahead for Ferrari

Ferrari’s leap into electrification was always going to be scrutinized. The brand’s identity is deeply tied to the sound, feel, and emotion of its combustion engines — elements that simply don’t translate to a battery-powered vehicle. The Luce represents a bold experiment, but whether it can win over Ferrari’s loyal customer base remains to be seen.

For now, the Luce stands as both a technological milestone and a test of Ferrari’s ability to evolve. The car may have received blessings from the Pope and the Italian president, but the most important judgment will come from the people who actually buy Ferraris. And so far, that verdict is still very much up in the air.