The Italian brand’s presentation of its first all-electric car has not gone down too well.
Former Ferrari F1 president Luca di Montezemolo criticized Ferrari harshly after the release of its first all-electric road car, the ‘Luce’. He led the wave of strong disapproval towards the car, feeling it lacked the true essence of Ferrari and appeared as a mix of features from existing electric cars. The price tag of €550,000 also faced backlash. Public response caused a significant drop in Ferrari’s stock price on the Italian and American exchanges. Di Montezemolo, who guided Ferrari for 23 years, openly expressed his disappointment and doubt about the company and the car’s legacy, suggesting that it might harm Ferrari’s reputation. He even doubted the car’s uniqueness to the extent of suggesting that not even the Chinese would imitate it if the Ferrari badge was removed.
