KATHMANDU: Ferrari has unveiled its first fully electric car, the ‘Luce’, but the model has triggered strong reactions from fans, investors and even former company executives.
The Luce is a four-door, five-seat EV, marking a major shift from Ferrari’s traditional low-slung petrol-powered sports cars. The car was revealed during a gala event in Rome earlier this week.
The exterior design, created by former Apple designer Jony Ive and Marc Newson through their design firm LoveFrom, has become the center of controversy. Many social media users compared the car to a vacuum cleaner, rubber clog and the Fiat Multipla.
Former Ferrari chairman and CEO Luca di Montezemolo openly criticized the new EV. He said the Luce risks damaging Ferrari’s legendary image and even suggested removing the famous Prancing Horse badge from the car.
Italy’s Deputy Prime Minister Matteo Salvini also questioned the design, saying the Luce does not look like a Ferrari and wondering what founder Enzo Ferrari would think about it.
The backlash also affected Ferrari’s stock performance. Shares of the company dropped 8.4 percent in Milan after the unveiling, while US-listed shares also declined.
Despite the criticism, analysts say Ferrari may have expected a divisive response. Industry experts believe the Luce is more of a technology and brand statement than a high-volume sales model.
Analysts also noted that previous Ferrari models like the FF and Purosangue SUV initially faced skepticism before becoming successful in the market.
Ferrari has not officially commented on the criticism surrounding the Luce. However, the company aims to attract a new generation of wealthy EV buyers with the model.
