Ferrari CEO Defends $640,000 Price Tag for First Electric Car Amid Criticism

Ferrari's CEO is defending the $640,000 price tag for its first fully electric car, the Luce, which has drawn criticism from a former company president and others. Despite the backlash, the CEO states that the new model is already accumulating orders.

28 May, 05:03 — 28 May, 11:23

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Why this matters

Ferrari, a brand historically synonymous with high-performance combustion engines, is entering the electric vehicle market with its first EV, the Luce. This move represents a significant shift for the iconic automaker, challenging its traditional identity and potentially alienating some of its purist customer base while aiming to capture new market segments.

Key entitiesFerrari Benedetto Vigna Luce Luca Cordero di Montezemolo

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cnbcMostly Factual13d ago

Ferrari CEO defends $640,000 price tag for its first fully electric car

Ferrari CEO Benedetto Vigna on Thursday said the cost of the manufacturer's new Luce model was a fair price to pay for innovation.

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Business InsiderMostly Factual13d ago

Ferrari's polarizing new electric Luce is a bet on a huge untapped market

Ferrari revealed the Luce, its first EV, on Monday. Ferrari Ferrari's first electric car, the Luce, is off to a bad start. The $640,000 EV was torn apart by the internet, sparking a share price drop for Ferrari. Ferrari execs say the Luce aims to win over EV owners. Nowhere has more of those than China. Ferrari's new electric car is off to a bad start in the court of public opinion. The Italian automaker might be more concerned about a market where electric vehicles reign supreme — China. E...

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ignMostly Factual13d ago