Tesla profit rises but remains well below 2022 levels
Tesla earned $477 million in Q1 2026, up from $409 million a year earlier, as sales rose 16 percent to $22.4 billion.
Ferrari revealed the Luce, its debut electric supercar, at an event in Rome on May 25, marking the automaker's entry into the EV market after years of development.
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Ferrari unveiled the Luce, its first electric supercar, at an event in Rome on May 25. The reveal took place at the Vela di Calatrava venue in the Città dello Sport, marking the completion of a development process that began in 2018.
The announcement comes nearly 79 years after Ferrari's first official racing victory. On May 25, 1947, Franco Cortese drove the Ferrari 125 S to its inaugural win at the Terme di Caracalla circuit in Rome. Ferrari chose the same city and date to present the Luce as a symbolic moment for the company's transition into electric vehicles.
The project has been in development for eight years. In January 2018, then-Ferrari chairman and CEO Sergio Marchionne first publicly discussed plans for an electric supercar at the North American International Auto Show in Detroit. "If there is an electric supercar to be built, then Ferrari will be the first," Marchionne said at the time. "People are amazed at what Tesla did with a supercar: I'm not trying to minimize what Elon did but I think it's doable by all of us."
The Luce's development has unfolded in stages. The vehicle was initially referred to by the nickname "Elettrica" before Ferrari revealed its powertrain specifications in October 2025. In February 2026, the company unveiled the interior design, which was developed by LoveFrom, the design firm led by Jony Ive and Marc Newson, known for their work with Apple.
According to Ferrari, the Luce represents more than simply an electric version of an existing model. The company describes it as a programmatic statement demonstrating that pure emotion, extreme performance, and engineering excellence can not only survive the energy transition but emerge amplified by it. Ferrari stated that the vehicle's creation does not represent a rejection of its past but rather the fulfillment of a multi-energy strategy announced during the Capital Markets Day in 2022.
The company has emphasized what it calls technological neutrality, viewing electrification as a means to expand design possibilities rather than as a constraint. The Luce's development aligns with Ferrari's broader strategy of offering multiple powertrain options across its lineup.
The Rome event marks the end of a carefully managed reveal strategy that has generated significant anticipation within the automotive industry. The exterior design was kept under wraps until the official presentation, following the earlier disclosures of the powertrain and interior specifications.
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