Ferrari unveiled its first electric vehicle, the Luce, priced at $640,000. The Italian automaker's first model without an internal combustion engine represents a significant technological shift for a brand built around traditional engine sensations. Designed in partnership with Apple alumnus Jony Ive, the luxury speedster signals Ferrari's entry into the electric era.

The Luce arrives as electric vehicles have fallen out of favor in the United States, the world's top luxury car market. This strategic move by Europe's most valuable automaker tests the appetite of the superrich for high-end EVs amid declining interest in electric models across America's luxury segment.

Named after the Italian word for light, the Luce emphasizes glass, light, and space in its design philosophy. The model will rank among Ferrari's most expensive non-limited production vehicles, potentially setting a new benchmark for luxury electric automobiles while challenging conventional notions of what a Ferrari should embody.