Ferrari Stock Plunges 8% After Former President Slams New Electric Supercar Luce.

Backlash Over Ferrari's Electric Supercar Luce

According to Novyny.live: Ferrari's stock took an 8% hit on the Milan Stock Exchange following harsh criticism from former president Luca Cordero di Montezemolo, who blasted the company's new electric supercar, the Luce. The sell-off wiped €3.7 billion off the Italian automaker's market capitalization.

Montezemolo, who led Ferrari from 1991 to 2014, voiced serious concerns about the model, warning that

“current management is taking a huge risk that could completely destroy the historic myth of an automotive legend.”

Luce Supercar Specs

The Luce is powered by four electric motors, delivering up to 1,050 horsepower in Boost mode. It accelerates from 0 to 100 km/h in just 2.5 seconds and reaches a top speed of 310 km/h. According to the European WLTP cycle, the car offers a range of 530 km. First commercial deliveries are not expected until at least 2027, with a starting price of €550,000.

Montezemolo isn't the only critic. Carlo Calenda, another prominent voice, described the Luce as

“an aesthetic and technological insult to true connoisseurs of the brand.”

As competition in the electric vehicle market intensifies, Ferrari's strategy around electrification and innovation is drawing mixed reactions. With shares declining and influential figures speaking out, the company faces a key challenge: balancing cutting-edge technology with its storied heritage.

This situation highlights the broader struggles traditional automakers face during the shift to electric powertrains. Ferrari, a symbol of high-performance sports cars, must navigate market demands without losing its identity. The strategic choices made in the coming years will likely shape its market standing and consumer perception.