It was only revealed in late May, but the controversial new electric Ferrari Luce is already a sell-out – at least, in China. That’s according to CarNewsChina, who has reported that the first 88 units of the Luce earmarked for the Chinese market have already been sold.

Despite all the controversy surrounding the Luce, including former CEO Luca di Montezemolo labelling it as a ‘destruction of a legend’, the Luce has initially proven popular at least in China, where many western car markers like Ferrari are facing reduced marketshare thanks to the rise of Chinese brands, though the Ferrari brand is still seen as a status symbol.

“Status symbols are still in demand in the country, though there has been a gradual shift toward domestic Chinese offerings over the years.” said CarNews China.

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“The Luce indicates there is a viable niche for catering to China’s ultra-rich, who still seek vehicles that embody wealth and exclusivity. Coverage from Chinese media provides insight into this.  Speedsters states that a Luce represents “4 million RMB on wheels,” which instantly signals that the owner belongs to China’s wealthiest 1%.”

Revealed in May, the Luce is the first electric vehicle ever produced by Ferrari, as well as its first ever series production sedan. It uses a massive 122kWh battery that’s designed to be replaced in its lifetime as more advanced battery tech is developed, which can be charged at up to 350kW and provides a WLTP-rated range of 529km.

The battery feeds a quad-motor drivetrain making 772kW of power, which is enough grunt for a claimed 0-100km/h time of just 2.5 seconds and a top speed of 310km/h.

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The design of the Luce was created in collaboration with a Californian design company LoveFrom, which was founded by former Apple design chief Sir Jony Ive and designer Marc Newson. The interior places strong emphasis on physical buttons, rather than touchscreen-heavy interfaces.

In China, the Luce is priced from 3,988,000 yuan (around A$849,000 at current exchange rates), which CarNewsChina reports is a seven per cent discount on pricing announced for markets such as the UK. Australian pricing for the Luce is yet to be announced, but we’re expecting it to land over $1 million before any on-road costs are added.