Ferrari CEO Benedetto Vigna has stood by the company’s pricing for its first fully electric car, the Luce, which costs about $640,000. He argued that the figure reflects advanced engineering, exclusivity, and the level of innovation involved in bringing the vehicle to life.
The Luce was unveiled earlier in the week and quickly triggered criticism from investors and the public. Ferrari’s stock dropped shortly after the reveal, with some market reaction linked to concerns over the car’s unconventional design and what it signals for the brand’s future direction.
Vigna pushed back on comparisons between Ferrari’s EV and mass-produced electric vehicles, saying the Luce belongs in a different category entirely. He stressed that Ferrari is not abandoning its traditional combustion engine identity, but instead adding a new layer to its lineup.
He also addressed confusion around the company’s shift toward electrification, saying reports may have overstated the idea that Ferrari would fully replace its iconic engines. According to him, the EV is meant to expand the brand’s portfolio, not redefine it.
The reaction has not been limited to financial markets. The car also sparked debate online and drew criticism from some industry figures and Italian officials over its styling.
Despite this, some analysts have suggested the concerns are premature, noting that it is too early to judge the long-term impact of the model on Ferrari’s business.
Following the announcement, Ferrari shares initially fell but later showed signs of recovery, reflecting mixed sentiment among investors.
Vigna described the launch as an important milestone for the company, calling it the beginning of a new phase in Ferrari’s history. He emphasized that innovation must be matched with design integrity, especially when introducing new technology.
He added that maintaining respect for both tradition and future technology is key, suggesting that Ferrari’s evolution will be gradual rather than disruptive.
