Despite the criticism surrounding the design of Ferrari’s first electric vehicle (EV), the luxury brand is seeing strong demand from both new and existing customers. The Luce, priced at 550,000 euros (approximately 639,000 USD), has already garnered significant interest, according to CEO Benedetto Vigna.

Market Reception and Customer Orders

At a recent event in Modena, Italy, Vigna addressed the controversy surrounding the Luce, stating that the car is a unique and original design. He emphasized that only by experiencing the car firsthand can one truly appreciate its distinctive features. Vigna also noted that the orders for the Luce are coming from both long-time Ferrari customers and newcomers to the brand.

Pricing and Innovation

The high price tag of the Luce has raised eyebrows, but Vigna defended it, arguing that innovation comes at a cost. He stated, ‘If you don’t want to pay for innovation, you’re not respecting the people who work on it, the supply chain, and the technology.‘

Design and Criticism

The Luce, designed by former Apple chief designer Jony Ive, has faced criticism for its departure from traditional Ferrari design. However, Vigna stressed that the Luce is a unique and innovative model, not a copy of other EVs on the market. The final verdict on the Luce will be determined by the brand’s customers.

Market Impact and Future Plans

Following the launch, Ferrari’s stock price initially dropped by over 8%, but it has since recovered, with a 3.3% increase as of May 28. Vigna also clarified that Ferrari will continue to produce a range of powertrain options, leaving the choice to the customers.

Related Articles

• Reuters: Ferrari CEO says first EV receiving orders from new, old customers

• Bloomberg: Ferrari’s First EV Faces Criticism But Still Sees Strong Demand

See our analysis on EV Market Trends for more insights into the economics of high-end electric vehicles.