Ferrari’s unveiling of its first fully electric car, the S640,000 (E474,320) Luce, sent shockwaves through markets and fans alike, as shares dropped more than 8% in Milan and 5% in New York.
The Luce, Ferrari’s first five‑seater, was designed in collaboration with LoveFrom, the agency founded by former Apple design chief Sir Jony Ive. Chief executive Benedetto Vigna said the car took five years to develop, with every component built in‑house to ensure long‑term serviceability and protect resale value. Powered by four Ferrari‑made electric motors, the Luce accelerates to 60 mph in about 2.5 seconds.
Investor reaction was swift. Analysts pointed to concerns about demand for ultra‑luxury EVs, the steep price tag, and the risk of alienating Ferrari’s traditional customer base. “This is a bold move, but markets are nervous about whether Ferrari’s loyalists will embrace silence over the roar of a V12,” one Milan‑based analyst said.
Public responses mirrored that divide. On social media, some hailed the Luce as “an absolute masterclass in design,” while others dismissed it as “straight to the junkyard trash.” Ferrari owners’ clubs expressed mixed feelings, with younger members praising the innovation and older enthusiasts lamenting the loss of tradition.
The design collaboration with Jony Ive drew particular attention. Automotive critics noted Apple‑like minimalism in the Luce’s interior, contrasting sharply with Ferrari’s classic cockpit style. “It feels like Ferrari is chasing a new audience,” one reviewer wrote, “but risks leaving behind the old one.”
Ferrari showcased the Luce in Rome, where Pope Leo sat inside the car and was presented with its steering wheel a symbolic gesture underscoring Ferrari’s attempt to blend heritage with innovation.
The launch comes amid turbulence in the EV market. Lamborghini and Porsche have scaled back electric plans, citing weak demand and competition from Chinese brands. Ford and Volkswagen have doubled down on petrol cars in the U.S., where regulatory changes under President Donald Trump reduced incentives for EV buyers. Jaguar’s recent electric concept faced backlash for abandoning its classic styling.
For Ferrari, the Luce represents both risk and opportunity: a chance to redefine the brand for a new era, but also a test of whether its most loyal customers and investors will accept a future powered by electricity rather than tradition.
