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Ferrari has turned a corner — and not everyone likes where it’s headed. The company unveiled the Luce, its first fully electric vehicle, and the reaction was swift: the former chairman publicly blasted it, and Ferrari shares slid about 5% as investors and fans questioned the move. This isn’t just a styling debate. It’s a clash over what Ferrari stands for and whether chasing EV trends will hollow out a legend.
What Ferrari revealed and why it matters
The Luce is Ferrari’s first full EV and its first five-seater. The company says the name means “light,” and it promises blistering performance — roughly 0–60 in 2.5 seconds and a top speed near 192 mph. It also carries a stratospheric price tag of about €550,000, or roughly $640,000, with deliveries planned later this year. CEO Benedetto Vigna called the launch a “new chapter,” stressing that the design must reflect the new technology.
Backlash from inside and outside the brand
Not everyone bought that argument. Luca Cordero di Montezemolo, Ferrari’s former chairman and a man who helped build the brand’s mystique, didn’t mince words. He warned the move risks “the destruction of a myth” and joked he hopes Ferrari removes the Prancing Horse from the car. That kind of public scolding from a legend stings. Fans on social media compared the Luce’s looks to plain, mass-market EVs — a nasty charge when your business sells aspiration, not appliance.
Why investors are nervous
The market reaction was immediate. Shares dipped roughly five percent after the reveal, and analysts flagged two big worries: the cost of developing EV technology and the possibility that this model will dilute Ferrari’s brand premium. Luxury car buyers are picky, and many premium automakers have already slowed EV plans after weak demand. Building expensive electric platforms is not cheap, and investors fear Ferrari may have to shoulder big R&D bills while selling fewer of its iconic combustion models.
A crossroads for Ferrari’s identity
This isn’t just about one odd-looking car. It’s about identity, customers, and cash flow. Ferrari says the Luce will attract new buyers while keeping loyal clients interested. Skeptics say the company risks alienating its core fans and overpaying to follow a market trend that hasn’t proven profitable at the high end. Either way, shareholders and lifelong Ferrari lovers will be watching closely to see if prestige can survive a pivot toward electric powertrains.
At the end of the day, Ferrari faces a choice: evolve in a way that honors the brand’s soul, or chase technology for technology’s sake. If the Prancing Horse does end up on an EV, the company will need more than glossy marketing to convince the faithful that the legend isn’t for sale.
