Fiasco instead of Forza: electric Ferrari causes shares to crash

“Destruction of a myth”

The former Ferrari president Luca di Montezemolo warned of possible image damage caused by an electric model. Ferrari thereby risks “destroying a myth”. The former Italian Minister of Industry Carlo Calenda described “Luce” as an “aesthetic and technological insult” to all fans of the Ferrari brand.

With the “Luce” model, Ferrari is daring to change course strategically. While competitors such as Porsche and Lamborghini have partially scaled back their electric plans in view of weaker demand, Ferrari is still committed to entering electric mobility. The Luce should 550.000 Euro costs, delivery will begin in the fourth quarter.

China in sight

Ferrari CEO John Elkann described the Luce as a pioneering step. The model reinforces what has always distinguished Ferrari: the courage to redefine the limits of what is possible. The four-door “Luce” is the first five-seater in Ferrari’s history and is also aimed at wealthy families with a 600 liter trunk. The model is also intended to improve market opportunities in regions such as China, where large combustion vehicles are heavily taxed.