Ferrari unveils first electric car 'Luce', sparking backlash and stock drop
Ferrari launched its first fully electric vehicle, the Luce, in Rome on May 25, 2026. The $640,000 five-seater features a Jony Ive-designed futuristic look, 1,036 horsepower, and a 530 km range. The unveiling triggered sharp criticism from traditionalists, Italian politicians, and former chairman Luca di Montezemolo, who called it a brand betrayal. Ferrari shares fell up to 8% amid investor concerns over design backlash and high R&D costs, as luxury EV demand slows industry-wide.
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Ferrari's $640,000 Electric Car Faces Backlash from Fans and Former Chairman
Ferrari's first-ever electric vehicle, the Luce, unveiled in Rome at a price of €550,000 ($640,000), has sparked widespread criticism online and from former chairman Luca di Montezemolo, who warned of 'destruction of a myth.' The four-door, five-seat EV has been mocked for its design, with comparisons to a vacuum cleaner, camper, and Nissan Leaf. Ferrari CEO Benedetto Vigna defended the innovation, stating true innovation does not seek immediate consensus. Despite the controversy, the Luce features a 0-62 mph time of 2.5 seconds, 323-mile range, and 8-minute recharge capability. Ferrari shares fell up to 8% on the Milan Stock Exchange amid fears of brand damage and commercial failure. The company aims to attract tech entrepreneurs, with former Apple design chief Jony Ive contributing to the interior design.
Fortune | FORTUNEFerrari's First EV Launch Sparks Investor Disappointment and Stock Drop
CNBC reporter Charlotte Reed attended the exclusive launch of Ferrari's first electric vehicle, the Luce, in Rome. The event, held at the Vela di Calatrava sports complex, featured tight security including camera blocking. The 550,000-euro EV, designed in collaboration with former Apple design chief Jony Ive, marks a significant departure from Ferrari's traditional aesthetic, featuring a five-seat layout and minimalist design. Despite the glitzy unveiling, investor disappointment caused Ferrari's stock to fall 8% the following day. The car received widespread criticism on social media and from Italian Transport Minister Matteo Salvini, who called it 'outrageously expensive' and uncharacteristic of the Prancing Horse brand. CEO Benedetto Vigna defended the design as necessary to represent the new electric technology.
US Top News and AnalysisFerrari CEO defends $640,000 price tag for first fully electric car Luce
Ferrari CEO Benedetto Vigna defended the €550,000 ($640,000) price of the company's first fully electric vehicle, the Luce, calling it a fair price for innovation. The car was unveiled in Rome on Monday, triggering an 8% drop in Ferrari's Milan-listed stock on Tuesday and a social media firestorm over its unconventional design, which drew criticism from the company's former boss and Italy's transport minister. Vigna stressed that the Luce is not a replacement for traditional engines and has nothing to do with Chinese EVs or other brands. Auto analysts have downplayed the investor backlash, calling it premature. The stock recovered slightly, trading up 1.7% on Thursday.
US Top News and AnalysisFerrari Unveils First Electric Car 'Luce', Sparking Controversy Among Traditionalists
Ferrari has presented its first electric car, the Ferrari Luce, at the Vela di Calatrava in Rome on May 25, 2026. The launch marks a significant shift for the iconic Italian luxury sports car manufacturer, known for its powerful combustion engines. The move has sparked a strong backlash from traditional Ferrari enthusiasts and purists, who are horrified by the departure from the brand's heritage. The article suggests critics have misunderstood the vehicle, framing it as a 'revolution of distinction' and the end of Eurocentrism in automotive design. The event signals Ferrari's entry into the electric vehicle market while attempting to maintain its exclusive brand identity.
Nachrichten - WELTFerrari's First EV 'Luce' Sparks Backlash from Fans and Investors
Ferrari's first electric vehicle, the Luce, has triggered intense backlash from fans and investors after its unveiling. The £475,000 car, designed with former Apple chief Jony Ive, features a futuristic shell-like form and silent engine. Former Ferrari chairman Luca di Montezemolo said it 'risks destroying the myth' of the brand and should lose the prancing horse logo. Ferrari shares fell nearly 8% in Milan amid fears the launch could mirror Jaguar Land Rover's controversial 2024 rebrand failure. Critics across Italy's political spectrum slammed the design, while Ferrari's chief design officer admitted it was 'polarising' but expressed confidence fans would eventually embrace it. The article notes that luxury and performance brands like Lamborghini, Porsche, and McLaren have retreated from EV initiatives, underscoring the energy transition challenge for luxury carmakers. Analysts suggest Ferrari executives are focused on filling the order book with tech crowd clients rather than current Ferrari customers.
TheWeek feedFerrari's First EV 'Luce' Sparks Backlash from Fans, Investors, and Politicians
Ferrari's first electric vehicle, the Luce, has triggered intense backlash from fans, investors, and Italian politicians after its unveiling. Designed in collaboration with former Apple chief Jony Ive, the futuristic car features a shell-like form, silent engine, and a £475,000 price tag. Former Ferrari chairman Luca di Montezemolo said it 'risks destroying the myth' of the brand and should lose the prancing horse logo. Shares fell nearly 8% in Milan amid fears of a repeat of Jaguar Land Rover's failed rebrand. Italian transport minister Matteo Salvini and centrist politician Carlo Calenda both criticized the design. Ferrari's chief design officer admitted the design is 'polarising' but expressed confidence fans will eventually embrace it. The article notes that luxury EV momentum has stalled, with Lamborghini, Porsche, and McLaren scaling back or abandoning EV plans. Analysts suggest Ferrari's strategy targets tech buyers rather than traditional customers.
TheWeek feedFerrari Shares Fall After Unveiling First Fully Electric Vehicle 'Luce'
Ferrari shares dropped sharply on Tuesday after the luxury carmaker unveiled its first fully electric vehicle, the Luce, in Rome. The Milan-listed stock fell about 8%, while U.S.-listed shares dropped 5.3%, extending a 12-month decline of over 32%. The launch marks a strategic departure for Ferrari, which has traditionally focused on combustion-engine supercars, and comes as rivals like Porsche and Lamborghini scale back EV plans due to weak demand. CEO Benedetto Vigna defended the design and technology, emphasizing respect for both innovation and customer expectations. However, analysts attributed the share price drop to 'design hate' and concerns over high R&D costs. Former Ferrari chairman Luca di Montezemolo criticized the vehicle as a disgrace to the brand's heritage. The Luce, priced at around €550,000 ($640,000), is Ferrari's first five-seater, accelerates to 60 mph in 2.5 seconds, and deliveries begin in Q4 2026.
US Top News and AnalysisJony Ive-Designed Ferrari Luce Electric Supercar Sparks Controversy
Ferrari unveiled its first electric vehicle, the Luce, a $640,000 speedster designed in collaboration with former Apple designer Jony Ive and Marc Newson. The car features a glass upper half, aluminum body, and minimalist interior with rounded corners and flush surfaces, marking a sharp departure from Ferrari's traditional dramatic and mechanical design. The unveiling divided the internet: traditionalists criticized the design as 'an Apple product on wheels' and flooded social media with memes, while tech and design fans praised the minimalist influence. Ferrari's shares dropped around 6% following the announcement. Ferrari's chief design officer Flavio Manzoni acknowledged the design is 'polarizing' but expressed confidence fans will embrace it over time.
Forbes - BusinessFerrari's First Electric Car 'Luce' Faces Criticism Over Design and Practicality
Ferrari has unveiled its first fully electric car, named 'Luce' (Italian for 'light'), in Rome on May 25, 2026. The vehicle has generated polarizing reactions primarily due to its design, which was led by a former Apple designer. Critics have also raised concerns about the car's five-seat configuration and trunk space, with some comparing its appearance unfavorably to a Nissan model despite being 17 times more expensive. The article questions whether Ferrari faces an 'electric fiasco' as it enters the EV market with a design that breaks from its traditional sports car aesthetic. The launch marks a significant strategic shift for the iconic Italian automaker as it embraces electrification.
Nachrichten - WELTFerrari Unveils First Fully Electric Car, the Luce
Ferrari has revealed its first fully electric vehicle, the Luce, marking a bold transition from combustion engines to EVs. The model features quad motors producing 1,036 horsepower, accelerating from 0 to 60 mph in 2.5 seconds, with a 122 kWh battery providing up to 329 miles of range. Priced around $600,000, it is also Ferrari's first five-seat vehicle. The design, described as polarizing and likened to a spaceship, was intentionally aimed at new buyers rather than traditional automotive purists. Former Apple designer Jony Ive contributed to the project. Investor reaction was negative, with Ferrari shares falling up to 6% in premarket trading, adding to a 30% decline over the past year. Competitors like Porsche, Maserati, and Lamborghini are closely watching the high-stakes EV transition.
All Articles on Seeking AlphaFerrari unveils Luce, its first fully electric car
Italian luxury carmaker Ferrari has unveiled its first fully electric model, the Luce (Italian for 'Light'), marking a major shift for the brand known for sleek two-seaters. The Luce has a top speed of over 310 km/h, a range of over 530 km, and accelerates from 0-100 kph in 2.5 seconds. It features a massive 122 kWh battery and weighs 2.26 tonnes, making it Ferrari's heaviest model. It is only the second four-door Ferrari in history and the first five-seater. The launch comes amid a broader industry slowdown in electric vehicle adoption, with Ferrari having revised its 2030 EV sales target from 40% to 20%. Company president John Elkann called the launch a new chapter that strengthens Ferrari's tradition of shaping the future.
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