Ferrari unveils first electric car priced at €550,000

Ferrari presented its first fully electric car, the Luce, in Rome on Monday. The five-seater carries a €550,000 price tag and is among the most expensive electric vehicles on the market. The company said the Luce features four electric motors producing more than 1,000 horsepower.

It accelerates from zero to 100 kilometres per hour in 2.5 seconds and reaches a top speed above 310 kilometres per hour.

Design and market reaction Social media users compared the Luce's smooth exterior to a Nissan Leaf and a budget Toyota. One widely shared post stated the car looked less like a supercar and more like a mass-market vehicle. Ferrari shares fell as much as 7.8 percent during trading in Milan following the unveiling.

Performance and features The Luce includes a 600-litre cargo area and seats five passengers. The company spent five years developing an acoustic system to amplify motor sounds rather than imitate a traditional engine. Orders can be placed starting Monday, with deliveries scheduled before the end of the year.