Ferrari’s first EV is now on sale in China priced from around $586,600. Initially it was said all 88 cars allocated to China sold out immediately. Later reports said dealers were still accepting orders for the 1,036-hp EV. Ferrari’s first electric car might have divided enthusiasts almost everywhere else, but China’s wealthy buyers don’t seem nearly as bothered. Despite the internet’s endless debate over the Luce’s strange styling and lack of a ‘real’ engine, Ferrari appears to be enjoying a warm reception in its second-biggest market, judging by a recent sales report. Car News China wrote this week that the country’s allocation of 88 cars for this year sold out almost immediately after the Luce launched with a price of 3.988 million yuan, or around $586,600. That made for an eye-catching headline, particularly given the mixed reaction the EV has received in Europe and North America. More: Ferrari Bet Big On Its First EV, Lamborghini’s Boss Says Its Buyers Want None Of It But maybe the story isn’t quite that straightforward. According to a subsequent report in Beijing Business Today, Ferrari sales staff in Beijing dismissed claims that orders have been halted because the allocation is exhausted. Instead, they say the Luce remains available to order ahead of its Beijing debut between July 3 and July 5. That suggests Ferrari either has additional cars earmarked for China or the original reports overstated how final that initial allocation really was. Ferrari’s China Sales Slipping China is certainly a key market for the Luce, as Ferrari sales have slipped in the country from 1,500 cars annually in 2022 to around 900 in 2025, an earlier Car News China story revealed. Some of that decline is due to steep taxes on luxury cars with combustion engines, and also the difficulty in gaining a license plate for an ICE car in large cities. Photos Ferrari China Because it’s an EV, the Luce gives easy access to a license plate and is also exempt from the country’s 40 percent consumption tax, the story explains. In fact, at $586,600, the Luce costs $53k less in China than it does in the USA. Also: But it still looks expensive compared with cheaper Chinese EVs, some of which are faster and more powerful, though the Luce is positioned as a five-seat grand tourer rather than an outright supercar. It’s also very likely to be more exclusive. Ferrari never divulges production numbers until after a car has been taken off sale at the end of the model’s lifespan, but industry watchers seem to be suggesting that Ferrari will make fewer than 1,000 (and maybe fewer than 800) Luce EVs each year. Ferrari