Ferrari's CEO Benedetto Vigna addressed the backlash from investors regarding the 550,000-euro (approximately $640,000) price of the Luce, the company's inaugural fully electric model. Following its launch, Ferrari's stock fell 8% on Tuesday, reflecting investor skepticism.
Vigna emphasized that the price reflects the innovation behind the Luce and clarified that Ferrari does not intend to fully replace traditional engines with electric ones. He noted that the Luce's design is distinct from other electric vehicles, particularly those from Chinese manufacturers.
Despite the initial negative market reaction, some auto analysts believe it is premature to be overly concerned about the stock's performance. After closing down 0.1% on Wednesday, Ferrari's stock saw a slight recovery, trading up 1.7% on Thursday.
Vigna described the Luce's launch as a pivotal moment for Ferrari, marking the beginning of a new chapter for the brand while stressing the importance of respecting new technology in its design