Ferrari CEO Benedetto Vigna defended the ₹5.4 crore price of the Luce EV, emphasizing strong interest from ultra-wealthy buyers despite an 8% share price dip post-launch.

Ferrari shares dropped 6% after unveiling its first fully electric vehicle, the Luce, in Rome

The Luce runs on a new architecture with a four-motor layout – one motor at each wheel – that produces just over 1,000 horsepower in its most...