Ferrari’s new Luce has not convinced everyone. Following the official unveiling of Ferrari’s first fully electric production model, debate around the car has exploded across social media, among investors, and even within the ranks of long-standing Ferrari figures.
The controversy was amplified by the Financial Times, which gathered some of the harsh reactions that emerged in the hours after the reveal. Among the most critical comments were descriptions such as “an insult to the Ferrari brand” and “terribly disappointing.”
Meanwhile, the financial markets reacted sharply. Ferrari shares closed down 8.4% on the Milan Stock Exchange after the presentation of the new electric model, highlighting investor concerns over the company’s bold strategic move.
A €550,000 electric Ferrari
The Luce marks a historic turning point for the Maranello-based manufacturer. It is Ferrari’s first fully electric five-seat sports car, with a reported price tag of around €550,000.
According to the Financial Times, the project is aimed at attracting a new segment of wealthy, tech-focused buyers, although many traditional Ferrari enthusiasts still strongly favour internal combustion engines over battery-powered alternatives.
The car was designed by Jony Ive, Apple’s legendary former designer, with a focus on reducing battery weight while delivering a distinctive driving experience. Ferrari has also worked to create a unique acoustic identity, with the electric motors reportedly producing a sound inspired by an electric guitar.
Benedetto Vigna defends Ferrari’s strategy
Ferrari CEO Benedetto Vigna defended the company’s decision, telling the Financial Times that he is “not scared” by the negative reaction.
For Vigna, the Luce represents “a step forward toward innovation” and the beginning of a new phase in Ferrari’s long-term brand evolution. Ferrari is therefore taking a very different path compared to some of its luxury automotive rivals, pushing decisively into the electric segment at a time when the market appears to be showing signs of slowing enthusiasm for high-performance battery-powered supercars.
Lamborghini slows its electric plans
Unlike Ferrari, Lamborghini has chosen to reassess its electric vehicle roadmap.
The Sant’Agata Bolognese manufacturer has postponed the launch of its first fully electric model, originally expected by 2030, instead shifting its focus toward plug-in hybrid models: “We are noticing a flattening of the acceptance curve for electric cars,” CEO Stephan Winkelmann explained during the Future of the Car summit organised by the Financial Times – “When customers buy our cars, they are buying a dream, not mobility,” he added.
Montezemolo: “We risk destroying a legend”
Among the strongest critics of the Luce is former Ferrari president Luca Cordero di Montezemolo.
Speaking on the sidelines of a Confindustria event, Montezemolo expressed serious concern about Ferrari’s new direction: “We risk destroying a legend,” he said, before adding provocatively: “I at least hope they remove the Prancing Horse from that car.”
Italian politician Carlo Calenda also entered the debate, openly criticising the new Ferrari model.
Ferrari targeting wealthy American tech buyers
According to several analysts, Ferrari’s strategy appears to be aimed primarily at a new international customer base, particularly wealthy American technology entrepreneurs.
Scott Sherwood, an independent analyst specialising in luxury automotive brands, believes Ferrari is not trying to win over its traditional loyal customer base: “If the Luce succeeds with technology enthusiasts and fills up the order book, that will be all the company cares about,” he explained.
It is a risky but potentially highly strategic gamble—one that could reshape the future of the luxury automotive market in the years ahead.
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