Ferrari’s New Electric Car Sparks Mixed Reactions

On Tuesday, Ferrari’s stock took a hit, dropping by 5%. The announcement of their new electric vehicle, priced at $640,000, has drawn reactions from car enthusiasts—some have dubbed it a “monster,” while others are not so impressed, comparing its aesthetics to far more affordable models. There’s also been criticism regarding the brand’s choice to use tech to mimic the roar of their traditional engines.

The Luce, which means “light” in Italian, marks Ferrari’s first venture into five-seater cars. Its design comes from the mind of former Apple executive Jony Ive. This new vehicle boasts a hefty half-ton battery and can reach a top speed of 192 miles per hour, accelerating to 60 mph in around 2.5 seconds.

Yet, despite these impressive specifications, some critics are skeptical about the Luce’s marketability, especially since it strays from Ferrari’s classic aesthetic. Additionally, most other car manufacturers seem to be pulling back on their electric vehicle commitments at this time.

Many on social media have drawn parallels between the Luce and the Nissan Leaf electric SUV, which costs about $30,000. “I was kind of hoping the electric Ferrari would be the cheapest option,” one Reddit user lamented. “Instead, it looks like a wooden IKEA toy.”

Another noted, “Sure, you can get fully equipped EVs for significantly less than this beast, which comes from a brand that isn’t exactly known for EVs. The badge alone doesn’t justify the $300,000 mark-up.”

Ferrari hasn’t commented directly on these criticisms, leaving many fans feeling uneasy.

One user tried to defend the Luce, mentioning Ferrari’s plan to utilize an “external amplification system” to project engine-like sounds onto the street. However, another response suggested that perhaps the amplification would just highlight noises from tires, wind, or other non-engine sounds.

Some users have also expressed disappointment with the design, comparing it to a “melted Alfa SZ,” referencing a now-popular limited-edition Alfa Romeo sports car. They feel the rear design doesn’t live up to expectations, creating an unexpectedly small presence.

Another criticism reflected a concern that the Luce could lead Ferrari down a similar path as Jaguar did in 2024, when they faced backlash over a controversial ad campaign while pushing their own transition to all-electric vehicles.

As for Ferrari’s plans in this electric era, it’s worth mentioning that they’ve invested significantly in becoming a leader in EV production, having opened a $230 million factory at their Italian headquarters in 2024, which will allow them to manufacture electric, hybrid, and traditional vehicles all in one place.

However, high-end rivals like Porsche and Lamborghini have paused their own electric ventures recently, and both Ford and Stellantis have reportedly faced financial claims linked to slowing down EV production. In the U.S., where luxury vehicles are in high demand, electric options still struggle for popularity—making the Luce one of Ferrari’s most expensive models ever.

Despite the uncertain reception, Ferrari’s chairman, John Elkann, remains optimistic about the Luce’s sales potential. He believes customer feedback suggests that existing buyers of conventional and hybrid Ferrari models will also be interested in electric options.