Ferrari's first all-electric model is already sold out for 2027, the automaker said during its third-quarter earnings call Tuesday. The Luce starts at an eye-watering $560,800 in the U.S., but neither its price nor its controversial design appears to be putting off Ferrari's deep-pocketed clientele.

“The Luce that we plan to sell next year basically are all allocated,” Ferrari CEO Benedetto Vigna said in the earnings call. He added that customers placing an order now would have to wait a year to take delivery. Ferrari didn't disclose how many units it plans to sell or provide a regional breakdown of its orders.

Designed through a collaboration with former Apple design chief Jony Ive's LoveFrom, the first electric Prancing Horse looks nothing like the Ferraris we're used to seeing. It trades the brand's signature aggressive, low-slung proportions for a higher-riding silhouette with an industrial-design aesthetic. The Luce is also Ferrari's first-ever five-seat car. The radical departure hasn't gone down particularly well with critics, many of whom have questioned whether the design looks like a Ferrari at all.

Ferrari isn't alone in taking a more unconventional approach to EV design. Jaguar's new Type 01 and the all-electric Mercedes-AMG GT have also sparked plenty of debate. Key rival Lamborghini, meanwhile, has scrapped plans for its first-ever EV, opting to stick with hybrids and gas models for now.

Vigna, however, said buyers were better understanding the Luce after seeing it in person and getting behind the wheel. “We see when and how the perception changes when the people drive the car,” he said.

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