Ferrari’s first electric car, the $640,000 Luce, has faced a stormy debut. Designed by former Apple legend Jony Ive, the five‑seat EV was roasted online, with critics comparing it to a Nissan Leaf. Former Ferrari chairman Luca di Montezemolo warned it “risks destroying a legend,” while Ferrari’s stock dropped 6%.
Ferrari Turns to China After Rocky Luce Launch
Executives say the Luce is meant to attract EV owners, especially in China, where over half of new cars sold are electric. Yet Ferrari faces fierce competition from local brands like BYD, Xiaomi, and Huawei, whose high‑tech luxury EVs have eroded Western automakers’ dominance in the Chinese market.
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