The CEO of Ferrari states that the Luce is worthy of...

      **Summary:** Ferrari's stock dropped 8% following the launch of the Luce, its first fully electric vehicle, which drew criticism from both its former chairman and Italy's transport minister. CEO Benedetto Vigna defended the €550,000 ($640,000) price, asserting it was justified for innovation and distinguishing the Luce from Chinese EVs and other brands. He noted that critics may misinterpret Ferrari's direction, as it is not abandoning traditional engines. Luca di Montezemolo, who previously headed the company, condemned the vehicle as a disgrace, calling for the removal of the prancing horse emblem. Matteo Salvini, Italy's Deputy Prime Minister, echoed this sentiment, criticizing the car's aesthetics and questioning what Enzo Ferrari would think.

      The design, co-created by LoveFrom, contrasts with Ferrari's typical angular style, leading to mixed reactions, including remarks that it resembles a failed Apple Car concept. The Luce boasts 1,035 horsepower and an 800V architecture, with impressive performance metrics. Despite the stock's decline, analysts downplayed concerns, highlighting strong financial health and a backlog of orders for traditional models. The success of the Luce remains uncertain, although Vigna noted strong interest from new affluent clients. While the competitive environment includes other luxury makers facing demand issues, Vigna insisted on the distinctiveness of the Luce. The design debate is viewed as expected with new technology, emphasizing "respect" for the brand and customers. The future success of the Luce will be determined when it goes into production in Q4 2026.