Ferrari Unveils Luce, Its First Fully Electric Car

Ferrari's stock has been tanking Tuesday, one day after the automaker unveiled its first-ever fully electric passenger vehicle, called the Luce.

Ferrari shares fell sharply Tuesday after the Italian sports car manufacturer unveiled the Luce, its first fully electric vehicle, at a ceremony in Rome, triggering a wave of investor anxiety over the brand's pivot away from the combustion engines that made it famous.

It's a major milestone for the luxury automobile industry, as Ferrari unveils its first fully electric car. The company introduced the Luce - Italian for "light". While its all-electric powertrain will take it from zero to 100 even faster than Ferrari's petrol-powered offerings, the four-door Luce has room for a family of five. It's the culmination of five years of development at the iconic Italian sportscar giant - but a potentially risky bet, as other luxury and mass-market carmakers have had to temper their EV ambitions amid mounting headwinds.

The Italian supercar giant has released images of what will be both its first ever pure EV, and its first car that can seat five people. The Luce eyes a younger clientele and the increasingly competitive Chinese market.

The Italian supercar giant has released images of what will be both its first ever pure EV, and its first car that can seat five people. The Luce eyes a younger clientele and the increasingly competitive Chinese market.

Ferrari has rolled out its first fully electric car, named Luce (Italian for "Light"), marking a high-stakes shift by Italy's best known luxury sports car maker even as competitors including Porsche and Lamborghini ​scale back ‌their EV ambitions, citing weak demand.