Ferrari Ex-Chairman Warns New Luce EV Risks ‘Destruction of a Legend’
Former Ferrari chairman Luca di Montezemolo warned that the model’s first all-electric automotive dangers “the destruction of a legend,” including sarcastically that no less than the Chinese wouldn’t copy it.
The Luce, unveiled in Rome on May 25, is priced at €550,000 and produces over 1,000 horsepower from 4 electrical motors. Deliveries start within the fourth quarter of 2026.
A Public Verdict from Ferrari’s Former Boss
Montezemolo spoke on the sidelines of a enterprise convention in Rome. He initially advised Italian media that sharing his view publicly would hurt Ferrari. Then he shared it anyway.
“Yes, we danger the destruction of a legend,” Luca di Montezemolo, former Ferrari chairman mentioned.
He went additional, calling for the prancing horse emblem to be faraway from the automotive. Meanwhile, on-line response tracked the identical skepticism, with Luce’s design in comparison with a Honda Accord and a luxurious kitchen equipment.
Ferrari’s RACE shares fell more than 6% in Milan buying and selling, wiping roughly €3 billion in market capitalization. The inventory additionally declined in US pre-market buying and selling.
Vigna Stands Behind the Vision
CEO Benedetto Vigna framed the Luce because the product of 5 years of deliberate work. He rejected the premise that breakthrough concepts emerge from broad settlement.
“Real innovation just isn’t democratic. Breakthrough concepts not often emerge from fast consensus,” Benedetto Vigna, Ferrari CEO mentioned.
He added that balancing braveness with accountability and custom with innovation has outlined the mission from the beginning. Vigna mentioned he’s “profoundly proud” of what the crew constructed.
The Luce was designed by LoveFrom, the studio of former Apple chief design officer Jony Ive. Ferrari filed greater than 60 patents related to the automobile.
The automotive seats 5 folks, tops 310 kph, and claims a vary exceeding 500 kilometres on a 122kWh battery.
The RACE slide contrasted with broader sports-equity tendencies. FIFA World Cup stocks have drawn recent consideration heading into summer season 2026, displaying how established sports activities publicity can supply extra predictable floor than a luxurious model’s electrical pivot.
A Wider Moment of Investor Caution
Ferrari was not the one model dealing with similar investor skepticism this week. The Peter Thiel-backed Enhanced Games noticed its inventory drop roughly 50% following a disappointing Las Vegas debut.
However, SpaceX’s IPO filing posted a $4.28 billion Q1 loss but attracted file investor curiosity, displaying markets are divided on worth formidable pivots.
Ferrari confirmed it is going to proceed producing combustion-engine fashions alongside the Luce. The long-term investor case for its electrical shift now rests on whether or not This fall deliveries can convert early consideration into sustained demand.
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