tech
I was at the exclusive launch of Ferrari's new EV that sent the stock tumbling. But there may be light at the end of the tunnel
Is there a "luce" at the end of the tunnel for Ferrari's first electric vehicle?
TL;DR
- Ferrari launched its first electric vehicle, the Luce, in Rome after years of development.
- The exclusive launch event involved high security and a reveal that was described as solemn.
- Investor disappointment following the launch caused Ferrari's stock to fall by 8%.
- The Luce's design, influenced by former Apple designer Jony Ive, represents a significant departure from traditional Ferrari aesthetics.
- The car is a five-seater and is priced at 550,000 euros.
- The design change drew criticism from the public and politicians, including Italy's Transport Minister Matteo Salvini, and former Ferrari Chairman Luca Cordero di Montezemolo.
- Despite the negative initial reaction, some analysts believe the Luce will be a success due to the strength of the Ferrari brand and collector demand.
- Ferrari CEO Benedetto Vigna defended the new design, stating that new technology needs to be represented differently.