In many ways, the newest Ferrari model is typical — a €550,000 price tag, zero-to-60 miles in under 2.5 seconds — but it’s different in one key way: It’s ugly. Oh, it’s also electric.
What happened: Ferrari has unveiled the Luce, its first-ever all-electric vehicle. The name, Italian for light, is meant to evoke a sense of “clarity and direction” according to the automaker. The concept apparently did not resonate with investors, as the company’s shares fell 8.4% yesterday.
Zoom in: To put it lightly, the Luce has not been well received by Ferrari fans. While some have praised its specs, its design — made in partnership with former Apple design head Jony Ive — has been criticized for looking like a run-of-the-mill EV.
Much of the Luce is made of glass; a techy design that gives ‘smart watch’ rather than ‘Italian supercar.’ As one analyst said, it looks like a “mix between a Honda Accord EV and Tesla 3… we are lost in translation with Ferrari’s new strategy.”
Former Ferrari chairman Luca Cordero di Montezemolo had perhaps the harshest words: "If I say what I really think, I'd be doing Ferrari harm. You risk destroying a legend… This, for sure, is one car the Chinese at least won't copy off us."
Why it matters: Luxury carmakers are pulling back from EVs, with Lamborghini, Porsche, and McLaren all tempering electric expansions due to tepid demand. Ferrari forged ahead, but if the Luce doesn’t hit, it could be a while before more luxury EVs hit the road. While this in itself isn’t a big deal as these cars make up such a small percentage of vehicles, it could indicate a wider trend: shoppers bristling at EVs because they don’t feel like real cars.—QH
