Ferrari Luce
Ferrari shares have stabilized after its first electric vehicle’s surprising styling spooked investors. Analysts are mostly positive about the impact the Luce will have on the Italian supercar maker’s ability to make profits typical of a luxury goods manufacturer, rather than the typical metal- bashing automakers’ struggle to stay in the black.
The launch was also seen as an important pointer to how luxury performance brands like Lamborghini and Aston Martin handle the transition to EVs.
When new Ferraris are unveiled, the descriptions usually run along the lines of how irresistible, sexy and drop-dead gorgeous the machine is. The Luce ran up against all these precedents with its smooth, understated looks, prompting a more than an 8% dive in the price of the shares and cries of anguish from traditionalists.
Former Ferrari chair Luca di Montezemolo said Ferrari risks destroying a legend, but at least the Chinese won’t copy it. “I hope they at least remove the prancing horse (logo) from that car,” he said. Italian Transport Minister Matteo Salvini said the Luce was “anything but a Prancing Horse car”. One critic said the Luce looked more like a mass-market Nissan Leaf, maybe the nicest thing ever said about the car which started the move towards mainstream EVs.
