Ferrari wanted to take on Chinese EVs with the Luce - then the backlash started

Ferrari wanted to take on Chinese EVs with the Luce - then the backlash started34 minutes agoShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterFerrariThe Ferrari Luce EV has been heavily criticisedThe new Ferrari Luce, the brainchild of iPhone designer Sir Jony Ive, is unlike anything the Italian carmaker has ever created - so is the backlash it is facing. Its launch was such a big deal that Italian President Sergio Mattarella and Pope Leo were invited to view the luxury brand's first electric vehicle (EV). But internet critics, investors and even politicians have hit out at the Luce - which is Italian for "light". The firm's shares fell 8% the day after the unveiling, as a host of memes mocked the $640,000 (£475,625) car, which is also its first five-seater. It comes as the global motor industry faces a number of major challenges, including fierce competition from Chinese carmakers. Shaun BakerHigh-end car dealer Shaun Baker calls the Luce the "Loser"The unveiling of a Ferrari EV marks a major shift for a brand built on sleek petrol-powered supercars, known for their roaring engines. For years, the firm resisted going electric - even as much of the motor industry was making the transition. The Luce is certainly as fast as many supercars: 0-60mph (96km/h) in about 2.5 seconds, with a top speed of more than 190mph. But it is the way it looks that has drawn the most criticism. Former Ferrari chairman Luca Cordero di Montezemolo told reporters on Tuesday that the Luce is "risking the destruction of a legend" and the firm should remove its iconic badge from the car. Australia-based high-end car dealer and collector Shaun Baker told the BBC that he refers to the Luce - which is pronounced "loo-chay" - as the "Loser". "Ferrari was the aspirational brand to own. But with the Luce, they've hurt their image," he said. Pope Leo inspects Ferrari's first fully electric vehicleThe Luce does not have the low-slung profile of a typical Ferrari. Powered by electric motors, it also does not have the distinctive engine noise. "This is supposed to be innovation? I wonder what Enzo Ferrari would say," Italy's deputy prime minister and transport minister Matteo Salvini said, referring to the company's founder. The Luce "looks like anything but a car from the prancing horse", he added. While some on the internet have praised the car, for example, as a "masterclass" of design, there is no shortage of critics. An "abomination", one commenter said. "Enzo Ferrari will rise from his grave and take control of the company again," wrote another. Some social media users drew comparisons to the far cheaper Nissan Leaf and Chinese EVs, suggestions Ferrari boss Benedetto Vigna was quick to push back at. Others posted AI-generated reworkings of the Luce's design, giving it a sportier look. "They were made in 10 seconds and still look better than what Ferrari has come up with," said Baker, who has owned more than 50 of the firm's cars. Getty ImagesFerrari F1 driver Lewis Hamilton has a Purosangue, Ferrari's first SUVVigna, who has led Ferrari for the last five years, is no stranger to controversy. The Purosangue, the firm's first sports utility vehicle (SUV), split opinion when it was launched in 2022. Critics said the four-door model would tarnish Ferrari's image as an exclusive supercar brand. But it sold well, helping the firm move into a new market. Ferrari isn't the only motor industry giant to face a backlash over going electric. In 2024, Jaguar sparked fierce debate when it announced plans to become a high-end EV brand and unveiled a concept vehicle called the Type 00 that looked unlike any of the British luxury carmaker's previous models. Critics said the car, with its ultra-long bonnet and chunky wheels, was a departure from the E-Type maker's roots. "Jaguar needs to be bold and disruptive in order to cut through and get our message across," the firm's boss Rawdon Glover told the BBC at the time. Getty ImagesThe Jaguar Type 00 concept car faced a backlash when it was launched in 2024Today, Ferrari is facing similar claims that it has lost its identity. Singapore car analyst James Wong praised the design of the Luce's interior but said as a whole the car is "unrecognisable" as a Ferrari. The Luce's "eye-popping price tag" also looks particularly high given the increasingly cheap and luxurious EVs already on the market, said sustainable industry expert Jessica Cheam. But Vigna has said it is a fair price to pay for innovation and that the car has received strong interest from potential buyers. Ferrari's move into EVs comes as several other big brands have been rethinking their plans for battery-powered cars. Rival supercar maker Lamborghini has scrapped its EV programme due to weak demand and customers' preference for petrol engines. Following the Luce's launch, Lamborghini boss Stephan Winkelmann said his company's focus on hybrid cars over all-electric models was "the right way to go". "Every brand, every company has to decide for themselves," Winkelmann told business news channel CNBC. Other carmakers - including Porsche, Honda and Ford - have also scaled back their EV programmes. Getty ImagesCritics say the Luce doesn't look like a typical FerrariGlobal carmakers have also faced stiff competition in China - a major market for luxury brands like Ferrari. Car buyers there have come to expect low prices, long battery ranges and innovative features. China is home to vast supply chains for EV parts that helps to lower the cost of production by at least 30% compared to the rest of the world, according to the International Energy Agency. Aggressive subsidies in the country have also led to huge growth in the number of carmakers, forcing firms to cut their prices and innovate to win over customers. That fierce competition has also forced Western firms, including Tesla and VW, to slash their prices in China. Chinese EV makers are increasingly targeting the premium market to boost their profit margins, competing with Porsche and Tesla's high-end models. Electric supercars have also been rolled out by Chinese firms better known for SUVs and saloons. An example of what Western brands are competing against is the $250,000 all-electric BYD Yangwang U9. It can reach 60mph in just over 2.3 seconds. That is perhaps why, with the Luce, Ferrari is targeting a completely different market from those looking to buy a conventional supercar. The Luce could appeal to younger buyers who are more open to EVs compared to Ferrari's die-hard fans, Cheam said. Given how unfamiliar it looks as a Ferrari, the Luce may also attract new customers to the brand, Wong said. The firm could have done with a "dipstick test" with loyal customers to see whether such a design would resonate with them, Wong said. "But then again, all this could have been intentional, given the huge media storm that the Luce has attracted." The BBC has asked Ferrari for its response to criticism of the Luce. The world's carmakers are struggling to compete with ChinaFlying cars and 5-minute charges: China's EV industry sees opportunity in Iran crisisCar TechnologyInternational BusinessElectric cars