by Criticism of the electric Ferrari Luce
Some car presentations cause controversy by accident. However, the Ferrari Luce seems to have been deliberately created for this, and the former long-time head of the company does not hide his disappointment. Back in February, iPhone designer Jony Ive warned that the fully electric Ferrari Luce would be a controversial model. But even he probably did not expect such a sharp market reaction to the exterior design.
Just a few months ago, experts praised the Luce’s interior, which avoids the excessive number of touch elements common to other Ferraris in favor of physical buttons, switches, and toggles. But while the design agency LoveFrom, led by Ive and which created the Luce, successfully worked on the cabin, the same cannot be said for the exterior. Even former Ferrari boss Luca di Montezemolo, who served as chairman and CEO from 1991 to 2014, is not thrilled.
Harsh criticism from Luca di Montezemolo
Shortly after Ferrari unveiled the Luce, di Montezemolo shared his candid opinion with the Italian publication Askanews. In his view, this is that rare Ferrari that even the Chinese won’t copy.
“If I were to say what I really think, I would harm Ferrari. We risk destroying a legend, and I am very sorry. I hope they at least remove the prancing horse from this car. This is definitely a car that, at least, the Chinese will not copy from us,” he stated.
The last statement was likely a veiled dig at Xiaomi, which last year released its YU7 SUV, suspiciously resembling the Ferrari Purosangue.
Reaction from Italian politicians
Di Montezemolo is not the only one shocked by the new Luce. Even Italy’s Deputy Prime Minister and Minister of Transport, Matteo Salvini, expressed his feelings on social media.
“This doesn’t look like (a Ferrari) at all. Is this supposed to be ‘innovation’? I wonder what Enzo Ferrari would have said,” he wrote.
Financial implications and the model’s future
Shortly after Ferrari pulled the covers off the Luce, the brand’s shares fell by 8.4% in Italy and 5.1% in the US. Ferrari has openly stated its ambitions to attract a new generation of wealthy buyers with the Luce, especially those focused on sustainability. However, whether it will succeed in attracting even them remains questionable.
Such a stormy reaction to the new electric car indicates a deep divide in the perception of Ferrari’s heritage. On the one hand, the company is trying to keep up with modern environmental trends and expand its audience, and on the other, it risks losing its identity, which for decades was built around powerful internal combustion engines and uncompromising design. Criticism from such influential figures as di Montezemolo and Salvini could have long-term consequences for the brand’s reputation, especially in its native Italian market, where history and tradition are of great importance. The drop in shares also shows that investors are not yet confident in the success of this bold but risky move.
