Ferrari’s First Electric Car Runs Into Backlash in Italy and Beyond
The New York Times • • general
Key Points:
- Ferrari unveiled its first electric vehicle, the Luce, a four-door sports car priced at 550,000 euros ($640,000), but has faced significant backlash from investors and enthusiasts, particularly in Italy.
- Since the launch, Ferrari's stock has dropped about 8 percent, with analysts expressing concerns about the impact of the Luce on the brand's perception and the company's broader electrification strategy.
- The Luce's design, created in collaboration with LoveFrom—founded by former Apple design chief Jony Ive and Marc Newson—has been polarizing, with some praising its engineering and interior, while traditional Ferrari fans criticize its unconventional, bubble-like exterior.
- High-end automakers, including Ferrari, continue to struggle to gain acceptance for electric vehicles among their core customer base, highlighting the risks involved in transitioning iconic brands to new technology.