Ferrari's share price has fallen following the launch of its first electric vehicle, the Luce, designed by Jony Ive. The Luce features a minimalist design, starts at $640,000, has a range of 329 miles, and can accelerate from 0 to 100 km/h in 2.5 seconds with a top speed exceeding 310 km/h.

A 1966 Ford Mustang has been converted into a Tesla by a Sacramento auto parts shop owner, featuring a Model 3 dual-motor drivetrain, a 15-inch touchscreen, and functioning Full Self-Driving capabilities. The conversion cost approximately $40,000 and took two years to complete, achieving an efficiency of 258 Wh/mi, comparable to that of a Model 3.

Tesla is developing a new smaller, cheaper electric SUV, following the cancellation of the Model 2 program. The new compact SUV will be produced at the Shanghai factory and priced significantly below the Model 3’s starting price of $34,000 in China and $37,000 in the US.

Xiaomi has launched the next-generation SU7 electric sedan featuring up to 902 km of CLTC range, standard LiDAR across all trims, and an 897V charging architecture on the top model. The sedan starts at 229,900 yuan (~$33,000), undercutting the Tesla Model 3 in China by approximately 5,600 yuan (~$800) despite a price increase of 10,000-14,000 yuan over the previous model.

Ferrari's first electric vehicle is named 'Luce'. The interior design was created by Sir Jony Ive, former head of design at Apple.