Ferrari's first electric vehicle, the Luce, has sparked debate among enthusiasts worldwide, but China's wealthy buyers appear unfazed.
The model is now on sale in the country with a starting price of around $586,600.
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According to Car News China, the initial allocation of 88 cars for this year sold out almost immediately after the Luce launched at 3.988 million yuan.
That headline contrasted with the mixed reception the EV has received in Europe and North America.
However, a subsequent report from Beijing Business Today suggests the situation may be more nuanced.
Ferrari sales staff in Beijing denied that orders have been halted due to exhausted allocation, stating the Luce remains available to order ahead of its Beijing debut from July 3 to July 5.
This indicates Ferrari may have additional cars reserved for China, or earlier reports overstated the finality of the initial allocation.
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The Luce's arrival comes as Ferrari's sales in China have declined from 1,500 cars annually in 2022 to around 900 in 2025, partly due to steep taxes on combustion-engine luxury cars and difficulties obtaining license plates for ICE vehicles in major cities.
As an EV, the Luce offers easy access to a license plate and is exempt from China's 40 percent consumption tax.
At $586,600, it costs $53,000 less in China than in the United States.
While it remains expensive compared with cheaper Chinese EVs, some of which are faster, the Luce is positioned as a five-seat grand tourer rather than a supercar.
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Industry watchers suggest Ferrari will produce fewer than 1,000 Luce EVs annually, possibly under 800, reinforcing its exclusivity.
