Ferrari debuts first EV to widespread backlash

Ferrari’s newest car has five seats, four doors, no engine roar, and enough horsepower to make a roller coaster nervous. But based on initial reactions, the Prancing Horse may have galloped a little too quietly into the future.

The luxury automaker this week opened orders for the Luce, its first EV and first five-seat vehicle, with a starting price of $640,000.

• The four-door liftback features a 1,035-horsepower quad-motor powertrain and a massive 122-kWh structural battery.
• Ferrari also broke from tradition by bringing in outside help for the design, partnering with the firm founded by former Apple design chief Jony Ive.

It’s a major moment for Ferrari

The automaker has long built its identity around loud, gas-powered supercars and exclusivity, but is now trying to establish itself in an EV market where other high-end rivals have struggled.

• Weak EV demand has already pushed several luxury automakers—including Porsche, Lamborghini, Mercedes-Benz, and Bentley—to delay or scale back their electric plans in recent months.
• Ferrari is essentially trying to prove there’s still a market for ultra-high-end EVs before the rest of the high-end market fully taps the brakes.

But…While some reviewers praised the Luce’s engineering and acceleration, many longtime Ferrari fans have criticized the car’s appearance and lack of the brand’s signature engine sound.

The backlash quickly spilled online, where memes comparing the vehicle to everything from an oversized computer mouse to a luxury toaster have flooded social media.

It’s also having a real-world impact. Ferrari’s stock fell ~8% following the launch of Luce, wiping nearly $30 billion off its market cap.