Ferrari CEO defends Luce EV's ₹5.4cr price amid criticism
What's the story
Ferrari's first all-electric vehicle, the Luce, has drawn criticism for its $640,000 (approximately ₹5.4 crore) price tag. However, CEO Benedetto Vigna has defended the cost as a fair reflection of the innovation. He stressed that Luce is not just another electric vehicle but a unique offering in its own right. "You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands," he said at a recent round table in Modena.
Vehicle specifications
Performance and speed of the Luce
The Luce, which means "light" in Italian, is Ferrari's first five-seater and second four-door model. It can go from 0 to 97km/h in about 2.5 seconds and has a top speed of some 310km/h. Each wheel gets its own electric motor for power. The minimalist exterior design hides the usual spoilers, fins and air vents associated with performance cars.
Design collaboration
Design and interior of the Luce
The Luce was designed by LoveFrom, the agency founded by Apple's former chief design officer Jony Ive, and designer Marc Newson. Ferrari claims all parts were designed and built in-house at its Maranello plant. The interior of the car focuses on tactile controls and digital dials, which Angus MacKenzie of MotorTrend magazine believes will influence the industry despite an unconventional exterior.
Market response
Criticism from industry insiders and politicians
The launch of the Luce has been met with criticism from both industry insiders and outsiders. Luca di Montezemolo, who led Ferrari for 23 years until 2014, was particularly critical, saying he was "truly sorry" about the direction Ferrari is taking. Italian Deputy Prime Minister and Transport Minister Matteo Salvini also criticized the car's aesthetics and price tag on X.
CEO's response
Addressing concerns about alienating existing customers
Vigna has admitted that the Ferrari EV was meant to be polarizing and attract buyers outside its traditional customer base, while still staying firmly in the ultra-wealthy segment. He said the Luce marks "a very, very important day" for Ferrari and opens "a new chapter." Addressing concerns about whether it would alienate existing customers, he stressed respect for technology in design.
Market focus
Targeting the Chinese market with the Luce
Ferrari has said the Luce is partly aimed at its growing Chinese customer base, the world's largest market for electric vehicles. The skateboard platform of the car has created much more interior space than conventional Ferrari models. This includes a fifth seat and no transmission tunnel separating rear passengers in performance cars, giving Luce a family-car practicality that is new to Ferrari's lineup.