Ferrari unveils its first fully EV

Luxury sports car maker Ferrari has unveiled its first fully electric car – the $640,000 Luce, the BBC writes.

The new model departs from the look of typical Ferraris as the Italian brand’s first ever five-seater, created in collaboration with the LoveFrom agency.

Ferrari chief executive Benedetto Vigna said in Rome that the Luce, Italian for “light”, has taken half a decade to develop.

As noted, supercar rivals like Lamborghini and Porsche have scaled back on their EV plans due to poor demand and intense competition from Chinese brands.