Ferrari presented its first fully electric car on Monday, marking a high-stakes shift by the luxury sports car maker as competitors, including Porsche and Lamborghini, scale back their EV ambitions, citing weak demand.

The four-door Luce, Italian for 'light', was developed with the help of former Apple design chief Jony Ive and his collective LoveFrom, and is Ferrari's first five-seater.

Ferrari aims to appeal to families with deep pockets, offering them comfortable seats, high-end tech and a 600-liter boot. Deliveries of the long-awaited Luce, priced at €550,000 ($640,000), are due to begin in the fourth quarter of 2026.

"It's the result of five years of work," CEO Benedetto Vigna told more than 200 reporters gathered in Rome.

The Luce, which amplifies natural vibration sounds from its EV powertrain to maintain the visceral appeal of a traditional Ferrari, marks a gamble that a generation steeped in technology and AI, and less attached to its trademark 12- and 8-cylinder engine legacy, will shift to high-tech luxury EVs.

Ferrari is hoping that will also give it the opportunity to move further into markets such as China, where EVs are already widespread and big petrol cars are heavily taxed.

"In our client base there are many ... who are still looking for something completely different, to be used in different moments of life," said Ferrari's chief marketing and commercial officer Enrico Galliera.

"It's absolutely stunning," Galliera added of the car, which features four electric motors, one per wheel, which help deliver more than 1,000 horsepower, a top speed above 310 kph, and increased agility for a car weighing more than 2.2 tons.

Ferrari said the Luce has a range of over 500 kilometers.

A light show launch featured five Luces, painted from Ferrari-red to white and light blue, which mark a break from the carmaker's aggressive, muscular, signature sporty style with a larger body and expansive, glass-led design.

The Luce interior defers to traditional Ferrari luxury, with leather, glass and anodised aluminum surfaces as well as several physical controls which differ from the all-digital, touch-led approach of Tesla and some Chinese EV makers.

As its sports car rivals tap the brakes on a shift to EVs, Ferrari will take a leap into an uncertain era on Monday with the launch of its first fully-electric car, betting it can connect with drivers even without a throaty engine roar.

With a top speed of 310 kph (193 mph), Ferrari's four-door Luce - meaning 'light' in Italian - will carry a price tag of more than €500,000 ($586,000).

Former Apple designer Jony Ive's studio LoveFrom was involved in developing the Luce, which sources describe as a large car with a look distinct from Ferrari's usual models.

"It's a risk and a bit of a bet," said Phil Dunne, a managing director at consultancy Grant Thornton Stax. "But it's a good thing to do because they are leading the way."

Monday's unveiling in Rome of the hotly awaited Luce caps years of preparation, from early hybrid Formula One systems more than a decade ago and road models since 2019.

First deliveries to clients will start in October, the company said last year.

Ferrari has invested heavily in electrification under CEO Benedetto Vigna, including a new "e-building" at its legendary headquarters in Maranello, Italy.

The Luce comes at a time of doubts over electric sports cars.

Ferrari itself delayed plans for a second electric model to at least 2028 due to weak demand, Reuters has reported. And its Italian rival Lamborghini abandoned plans to roll out an electric model in 2030, citing a lack of customer interest.

Felipe Munoz of Car Industry Analysis said Ferrari does not expect the Luce to be a big seller, but rather a statement as Chinese rivals lead the world in developing flashy new EVs.

BYD has developed the Yangwang U9, an electric supercar that can jump and dance.

"You might not need to have an EV supercar right now. But electrification is here for the long run, and Ferrari needs to make a move - it must define what luxury electrification looks like before someone else does," Munoz said.

Ferrari's challenge is preserving its identity with an entirely new technology as legacy high-performance brands struggle with the limitations of batteries, which are heavy and lack the sustained power and visceral appeal of petrol engines.

When Ferrari lifted the hood on the technology behind the Luce in October, this included a specially designed sound system to amplify vibrations from its powertrain to create a distinct electric Ferrari sound instead of a fake engine noise.

"The three things everybody always associates with Ferrari are how it looks, how it sounds, and how it feels," said Grant Thornton Stax's Dunne, adding that going electric means "they have to get those right in a different way".

Ferrari has scaled back its electrification targets. Fully electric cars should make up 20% of its lineup by 2030, down from a previous goal of 40%. The automaker will also continue making hybrid and traditional internal combustion engine models.

The Luce could help Ferrari reach the next generation of wealthy buyers who are more open to EVs, while high petrol prices due to the Iran war also add to the appeal of electric.

CEO Vigna said in February that Ferrari would open pre-orders for the Luce in March after "very positive" initial client feedback.

And while not all Ferrari fans will be won over, the carmaker hopes a younger generation will want to own one, while its traditional ultra-wealthy buyers will still want a Ferrari EV in their garage or on their drive.

"It certainly won't appeal to all of Ferrari's customer base," Dunne said. "But it will appeal to some."