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Ferrari's Electric Luce Sparks Backlash Amid EV Industry Shift

Financial Times Companies •
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Ferrari's unveiling of its first all-electric vehicle, the €550,000 Luce, triggered fierce criticism from enthusiasts who view the move as a betrayal of the brand's petrol-powered heritage. Social media erupted with mocking comparisons to household items, while former CEO Luca di Montezemolo questioned whether the car should even wear Ferrari's prancing horse badge.

The Italian automaker brought in Apple's former design chief Sir Jony Ive and Marc Newson to craft the Luce's aesthetic, anticipating it would divide opinion. Unlike Jaguar's controversial electric relaunch that drew intense fire, Ferrari is actually taking orders for the vehicle. The company deliberately targeted new customers with its first five-seater model, recognizing that younger consumers often ignore traditional automotive distinctions.

This launch highlights the existential challenge facing established automakers as the electric vehicle market transforms engineering fundamentals and regulatory landscapes shift. Traditional carmakers must now compete with Chinese rivals flooding global markets while navigating inconsistent policies across major economies.

Ferrari's profitability and scarcity model provide insulation from temporary backlash, but the Luce represents necessary adaptation rather than pure innovation. The brand maintains its petrol-powered lineup while hedging against regulatory risk, proving that heritage manufacturers can embrace electrification without abandoning their core identity.