Ferrari (RACE.MI), presented its first fully electric car on Monday, marking a high-stakes ‌shift by the luxury sports car maker as competitors including Porsche (P911_p.DE), 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 (AAPL.O), design chief Jony Ive and his collective LoveFrom, and is Ferrari's first five-seater.