Ferrari (NYSE: RACE) put its first all-electric model on sale in China on Friday, June 26, 2026, pricing the Luce from 3.988 million CNY (c. $586,000) and formally opening the supercar maker's electric era. The Shanghai launch was the model's Asian debut, following a global premiere in Rome in late May 2026.

Ferrari Luce starting price in China (Ferrari)

"Luce" means light in Italian. China is the first market where Ferrari will gauge appetite for the EV among the ultra-wealthy, and the car ranks among the priciest EVs offered there.

The home price undercuts Europe, where the Luce starts at €550,000 (c. $626,000), or roughly 4.35 million CNY. Chinese outlets noted the China sticker is about 360,000 CNY (c. $53,000) cheaper than the European figure once converted.

That gap reflects how steeply combustion Ferraris are taxed in China, where import duties, consumption tax and luxury levies can total around 75%. EVs are exempt from the consumption tax and can secure a license plate almost immediately in big cities.

Ferrari allocates only about 10% of output to China, and sales there have slid — from roughly 1,500 cars in 2022 (11.7% of global volume) to around 900 in 2025 (6.9%). Marketing chief Enrico Galliera has said the Luce targets buyers who already own an EV, a shift for a brand that sold 81% of its 13,640 cars in 2025 to existing owners.

The Luce uses four independent motors, two per axle, for a combined 772 kW (1,035 hp) and 990 Nm. It reaches 100 km/h (62 mph) in 2.5 seconds, 200 km/h (124 mph) in 6.8 seconds, and tops 310 km/h (193 mph).

Power comes from a 122 kWh pack on an 800-volt architecture, rated at 530 km (329 miles). Ferrari says the car can replenish 70 kWh in 20 minutes on a 350 kW fast charger.

For the first time, Ferrari handed an entire design brief to an outside studio: LoveFrom, co-founded by former Apple designers Jony Ive and Marc Newson. Ive led an interior built around physical controls, glass and aluminium, with a steering wheel made from 100% recycled aluminium.

Ferrari Luce four-door layout (Ferrari)

The four-door, five-seat liftback is the first Ferrari able to seat five, with rear coach doors hinged at the B-pillar. It measures 5,026 mm long on a 2,961 mm wheelbase and wears a glass-shell cabin.

The car rides on the largest wheels ever fitted to a production Ferrari — 23 inches front, 24 inches rear — while round taillights nod to the 360 Modena and 458 Italia. Inside sit four Samsung OLED screens of 12.9, 12, 10.1 and 6.3 inches, and five launch colors include a bespoke Giallo Luce yellow.

The reveal was bruising. Ferrari shares fell 6.27% in Milan, erasing roughly €3 billion (c. $3.5 billion), as critics including former chairman Luca di Montezemolo and Italy's deputy prime minister panned the styling.

In China, the Luce meets a crowded field of domestic ultra-luxury EVs, among them Huawei's Maextro S800, Nio's (NYSE: NIO) ET9 and BYD's (HKG: 1211) Yangwang U9. Ferrari has stressed that electrification will run in parallel with, not replace, its combustion line.

Deliveries are due in the fourth quarter of 2026. Will China's EV-fluent rich embrace a Ferrari that drives like a supercar but looks like nothing the brand has built before?

Conversion rates: 1 USD = 6.8063 CNY and 1 EUR = 1.1384 USD as of June 26, 2026