Ferrari Stands by Its Bold Luce EV Despite Backlash

Ferrari, the famous Italian luxury carmaker, is standing firmly behind its first-ever electric vehicle, the Luce, even though the car sparked heavy criticism when it was revealed.

CEO Benedetto Vigna told reporters he "would not change anything" about the launch. He spoke during a call to discuss the company's second-quarter results (a report every three months showing how much money a company made).

The Luce is a big departure from typical Ferraris. It was designed by Jony Ive, the former design chief at Apple, and features a minimalist interior, screens, and a rounded, bubbly exterior. Not everyone loved it—even a former Ferrari executive publicly criticized the car.

Here are the key facts:

• The Luce costs 550,000 euros (about $640,000).
• Ferrari sold 13,640 vehicles in total last year.
• The company says its order books (list of customers waiting to buy) are full through 2027.
• According to the Financial Times, Ferrari aimed to sell just under 500 Luce units this year—and that goal was reached in less than two months after the May 25 launch.

The market's first reaction was harsh. After the car's debut, Ferrari's U.S.-listed shares (pieces of ownership in the company that people can buy and sell on the stock market) dropped 8.4%—their biggest single-day fall this year. Investors were nervous about how the unusual new car would be received.

But the story didn't end there. The stock has since recovered, suggesting that early fears may have faded as strong demand became clear.

Vigna explained that Ferrari deliberately rolled out the car slowly—revealing the interior early and posting online videos about its development—to help buyers understand all the new features. "We are very much satisfied because we are proceeding as planned," he said.

In short: Ferrari believes its risky, high-priced electric car is a success despite the noise, and the numbers behind full order books seem to back up the CEO's confidence.

This is an AI-generated summary. Read the original article at: https://www.cnbc.com/2026/07/30/ferrari-ceo-luce-ev-debut.html