Ferrari launches Luce at occasion in Rome.
Ferrari
Ferrari CEO Benedetto Vigna on Thursday sought to defend the 550,000-euro (roughly $640,000) price ticket for the luxurious carmaker’s first totally electrical automobile, saying the mannequin has obtained robust buyer curiosity, together with from new super-wealthy purchasers.
The Luce was unveiled on Monday and sparked a destructive market response, with Ferrari’s Milan-listed inventory falling 8% on Tuesday.
Talking at a spherical desk in Modena, Italy, on Thursday, Vigna reportedly mentioned the price of the producer’s new Luce mannequin was a good worth to pay for innovation.
He mentioned that media protection could lead some to conclude the sports activities automobile producer would substitute conventional engines with an all-electric model, which he pressured was not the case.
“It’s important to see Luce to grasp that it has nothing to do with Chinese language EVs or these by different manufacturers,” Vigna mentioned, in keeping with Reuters. CNBC has contacted Ferrari and is awaiting a response.
The investor response to the Luce’s launch was accompanied by a social media firestorm. The automobile’s unconventional design was criticized by the corporate’s former boss, in addition to Italy’s transport minister.
Auto analysts, nevertheless, have downplayed the investor backlash, saying it’s “too early to be overly involved.”
The inventory closed down 0.1% on Wednesday, extending Tuesday’s losses. It was final seen buying and selling up 1.3% on Thursday.
Talking earlier within the week, Ferrari’s Vigna described the launch of the Luce mannequin as a “very, crucial day” for the corporate, symbolizes the opening of “a brand new chapter” in its historical past.
When requested whether or not the corporate may fulfill new clients and its typical clientele, Vigna informed CNBC’s Charlotte Reed, “Look, whenever you do a brand new know-how, you want all the time to bear in mind a phrase that is known as respect.”
“Respect of the know-how, as a result of when you have got a brand new know-how, you must be sure that that know-how is correctly represented within the design, so the design have to be totally different,” he added.
The Luce mannequin, Ferrari’s first-ever five-seater automobile, can hit 60 mph in round 2.5 seconds and has a most velocity of roughly 192 mph.
Ferrari mentioned it had chosen to develop and manufacture all elements in home in Maranello, whereas the design was entrusted to LoveFrom, an company based by former Apple design chief Jony Ive.
EV criticism
In an indication of the criticism the EV was receiving, former Ferrari chairman Luca di Montezemolo, who held numerous management positions within the automaker for many years till 2014, described the automobile to Italian media as a shame to the corporate’s storied historical past.
“I hope that they take off the prancing horse [logo] from that automobile,” he mentioned on the sidelines of a enterprise convention in Rome, in keeping with Reuters.
Benedetto Vigna, CEO of Ferrari within the Paddock previous to the F1 Grand Prix of Italy at Autodromo Nazionale Monza on September 07, 2025 in Monza, Italy.
Mark Sutton – Method 1 | Method 1 | Getty Pictures
Ferrari declined to touch upon di Montezemolo’s remarks. Montezemolo final yr joined the board of rival McLaren Group Holdings Restricted, which makes competing sports activities vehicles and has targeted on hybrid engines. McLaren additionally competes with Ferrari in Method 1.
Italian Deputy Prime Minister and Transport Minister Matteo Salvini additionally criticized the Luce.
“Electrical, outrageously costly (550 thousand euros!) and, from an aesthetic standpoint, it speaks for itself… It appears like something however a automobile from the Prancing Horse. And that is purported to be ‘innovation’? Who is aware of what [Ferrari founder] Enzo Ferrari would say… ,” he wrote on X.
— CNBC’s Michael Wayland and Robert Frank contributed to this report.
Disclosure: CNBC is a sponsor of McLaren Racing.
