Ferrari’s first electric vehicle has triggered a sharp backlash from investors and fans of the brand. The newly unveiled €550,000 Luce sparked a wave of criticism on social media, while the company’s shares fell nearly 8% in Milan trading on Tuesday.
Many users described the car as “an insult to the marque” and “hideously underwhelming.” The Luce was designed by LoveFrom, the studio founded by former Apple chief designer Jony Ive. The EV features a futuristic body with extensive glass surfaces and differs sharply from Ferrari’s traditional models.
Ferrari CEO Benedetto Vigna had previously acknowledged that the car’s design would be “polarizing,” arguing that “people are afraid of anything new.” One of the project’s creators, industrial designer Marc Newson, also told the Financial Times that the team understood the risk of a divisive reaction.
The Luce is Ferrari’s first fully electric vehicle and at the same time the company’s first five-seat sports car, with a range of about 530 kilometers. Its launch comes amid growing doubts about demand for electric vehicles in the luxury sports-car segment, where buyers have traditionally favored gasoline engines.
Italy’s Lamborghini recently abandoned plans to release its fully electric Lanzador model by 2030 and decided to focus on hybrids instead. Lotus has also revised its strategy in favor of plug-in hybrids, while Bentley has retained plans for an EV but dropped its goal of going fully electric after 2035.
Ferrari has openly acknowledged that the Luce is not aimed at the brand’s traditional customer base. Half of the guests invited to the model’s three-day presentation had never previously owned a Ferrari—normally such visitors account for only 10% to 20% of attendees.
The company also decided for the first time not to prioritize longtime customers when allocating orders. Ferrari hopes to attract a new audience, including EV enthusiasts and entrepreneurs from the technology sector.
The Luce will start at €550,000 in Italy, making it the most expensive Ferrari model outside the company’s supercar lineup. By comparison, the four-door Purosangue started at €450,000.
Analysts believe the company is targeting wealthy clients from the tech industry above all. According to independent expert Scott Sherwood, Ferrari’s main priority is to fill its order book rather than persuade the brand’s traditional audience that the model is attractive.
Despite the criticism, Ferrari executives insist they are not concerned about the project’s financial performance. Vigna stressed that the company had designed the model to remain profitable even with limited production volumes. Ferrari now plans for fully electric vehicles to account for about 20% of its lineup by 2030—half of its original target.