Ferrari CEO Defends $640,000 Price Tag for New Electric Supercar ‘Luce’

Ferrari CEO Benedetto Vigna is standing firmly behind the company’s first fully electric vehicle, the Luce, despite mounting criticism over its design, price, and what some fans see as a dramatic shift away from the luxury brand’s roots.

The Italian automaker unveiled the Luce earlier this week in Rome, introducing what Ferrari called a new chapter in its history. But the launch immediately sparked intense debate online and triggered a sharp investor reaction, with Ferrari shares falling nearly 8% following the reveal.

At a media event in Modena on Thursday, Vigna defended the approximately $640,000 price tag, arguing that the cost reflects the innovation and engineering behind the vehicle.

Ferrari Says Innovation Comes at a Premium

According to Vigna, the Luce represents far more than just another electric vehicle entering the growing EV market.

“You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands,” he reportedly said while addressing criticism surrounding the car’s appearance and pricing.

Ferrari executives insist the company is not abandoning its iconic combustion engines. Instead, the automaker plans to continue offering traditional powertrains alongside hybrid and electric models.

Vigna stressed that Ferrari’s goal is to respect both technology and heritage while adapting to changing market demands.

“When you introduce new technology, the design must reflect that evolution,” he said during interviews following the launch.

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Investor and Fan Backlash Intensifies

Despite Ferrari’s optimism, the Luce has divided automotive enthusiasts and investors alike.

Social media platforms quickly filled with criticism of the vehicle’s futuristic design, minimalistic interior, and departure from Ferrari’s traditional styling. Some longtime fans argued the model lacks the emotional appeal associated with the brand’s legendary V12 and V8 engines.

Former Ferrari chairman Luca di Montezemolo publicly criticized the EV, reportedly calling it a betrayal of the company’s legacy.

“I hope they remove the prancing horse logo from that car,” he said during a business conference in Rome.

Italian Deputy Prime Minister Matteo Salvini also mocked the design online, questioning whether Ferrari founder Enzo Ferrari would have approved of the direction.

Ferrari Betting on New Luxury Buyers

Despite the backlash, Ferrari executives say the Luce has already generated strong interest among wealthy buyers, including first-time Ferrari customers.

The five-seater EV can reportedly accelerate from 0 to 60 mph in around 2.5 seconds and reach a top speed close to 192 mph.

Ferrari also highlighted that the car was designed and engineered entirely in-house at its Maranello headquarters, while its styling was developed in partnership with LoveFrom, the design agency founded by former Apple executive Jony Ive.

Industry analysts believe Ferrari’s strategy reflects a broader shift in the luxury automotive market, where elite brands are cautiously exploring electrification without fully abandoning performance heritage.

The Future of Ferrari’s Electric Vision

While critics continue debating whether a fully electric Ferrari can preserve the spirit of the legendary automaker, company leadership appears committed to balancing innovation with exclusivity.

For Ferrari, the Luce is not simply about competing in the EV race — it is about redefining what a luxury performance car can look like in the modern era.

Whether customers embrace that vision long-term remains one of the biggest questions facing the future of high-end automotive design.