The iconic car company Ferrari has unveiled the Luce, its first all-electric vehicle, but the reported starting price is about $640,000.

Critics have compared the design to much-cheaper rides and bashed the brand for using tech to replicate the iconic engine growl.

While many may expect rising gas prices to result in increased demand for electric vehicles, that’s not necessarily the case, according to RJ Scaringe, the CEO of Rivian. “We, as the buying public, have just become somewhat numb to volatility,

In eight countries, at least half of all new cars sold in 2025 were electric or hybrid. The U.S. reached just 10%, well below the global average of 25%.

Ferrari has revealed the Luce as its first fully electric car, combining four motors, 1,035 HP, up to 329 miles of range, dramatic cabin controls, advanced chassis tech, and futuristic design in a major new chapter for Maranello.

"If you own the shares, it’s your company now."

In 2025, 97% of new cars sold in Norway were electric vehicles or hybrids % of new car sales that were electric or hybrid in each country, 2025 Note: New car sales only. EVs and hybrids include battery-electric vehicles,

Ferrari (NYSE:RACE) has spent decades cultivating an image built on scarcity, sound and speed. The Luce, its first fully electric vehicle, has tested all three pillars at once, and the market's verdict was swift: the shares fell as much as 8% in the days following the Rome unveiling,