Exterior design sparks controversy — Ferrari’s first all-electric Luce unveiled, shares plunge

Controversial debut

Ferrari (法拉利) has unveiled Luce, the Italian marque’s first all-electric production car, and the reaction was immediate — and mixed. The five-seat, four-door model breaks sharply with Ferrari’s traditional sports-car silhouette, favoring a minimalist, sedan-like exterior penned by Jonathan Ive (乔纳森·伊夫) and his LoveFrom studio. Is this still a Ferrari? For many fans and some investors, the answer is not obvious.

Specs and design

Luce starts at $640,000 and is built in Maranello, Ferrari’s long-time home. It packs a 122 kWh battery, an advertised range of about 530 km, four electric motors, 0–100 km/h in 2.5 seconds and a top speed above 310 km/h. Ferrari says the car “redefines” the brand’s passenger experience and even reproduces an authentic simulated engine note by amplifying the motors’ sound. Ive — who rose to prominence designing the iPhone and other Apple hardware — reportedly remains involved in adjacent projects, including work with OpenAI.

Market reaction and strategy

Investors signaled unease: Ferrari shares tumbled as much as 8% in Milan trading before settling down to a roughly 6% loss, reflecting doubts about whether Luce will win over the firm’s traditional clientele. It has been reported that AIR Capital’s head of research compared Luce’s aesthetics to “an electric Honda Accord and a Tesla Model 3,” a blunt critique cited by Bloomberg. Ferrari, which had a market value of about €56 billion before the launch, has already tempered its electrification timetable — it now plans a 2030 mix of roughly 40% internal-combustion, 40% hybrid and 20% pure electric models, downshifting from an earlier plan that foresaw a much larger BEV share.

What this means globally

The Luce launch underscores tensions in the luxury auto sector: heritage brands must balance their DNA with regulatory pressure and a fast-moving EV market where China is the dominant battleground. Ferrari’s CEO framed Luce as a bold technological step. But amid fierce competition from Tesla and a wave of Chinese EV challengers, the question remains whether a very different-looking Ferrari can keep its halo — and its investors — intact.