A HOT POTATO: Ferrari's long-awaited move into fully electric vehicles landed with an immediate financial jolt. Shares in the company dropped about 8% after the debut of the Luce, wiping out more than $5 billion in market value and signaling investor unease with both the design and the broader strategy. The reaction didn't stop with investors. Within hours of the unveiling, criticism spread across social media, owner forums, and even into Italian politics.
Matteo Salvini, Italy's deputy prime minister and transport minister, weighed in publicly, writing on X: "It looks nothing like a (Ferrari). Is this supposed to be 'innovation'? Who knows what (company founder) Enzo Ferrari would say." That kind of response shows how far the Luce departs from Ferrari's established identity.
In the same post, a video of former Ferrari boss Luca Cordero di Montezemolo is seen lamenting on the Luce: "If I said what I really think, I'd harm Ferrari. We're risking the destruction of a myth, I'm very sorry about that. I hope they at least remove the Prancing Horse from that car."
The Luce is Ferrari's first fully electric model, its first five-seater, and the most expensive of its non-supercar cars, with a starting price around €550,000 ($640,000).
