Ferrari unveiled its first fully electric vehicle, the Luce, marking a major shift for the luxury sports car maker.

The new five-seater EV, priced at about $640,000, can reach 60 mph in roughly 2.5 seconds and has a top speed near 192 mph.

CEO Benedetto Vigna described the launch as the beginning of a new chapter while emphasizing respect for both new technology and Ferrari’s traditional customer base.

Despite the excitement around the launch, Ferrari’s shares fell sharply following the announcement, CNBC has reported.

The Luce, designed with input from former Apple designer Jony Ive’s firm LoveFrom and built entirely in Maranello, is expected to begin customer deliveries later this year.