Inside Ferrari's Electric Gamble: Why the CEO Says the Luce Redefines the Brand

The car carries more than 60 new patents and was built on a dedicated platform developed over five years . The engineering involved includes four independent electric motors producing over 1,000 hp (1,050 cv in launch control), a 122 kWh battery on an 800-volt architecture, and active suspension with four-wheel steering . Vigna's argument is that this technical package is unprecedented in the segment, and the price simply reflects what it cost to create it.

2. Customer demand is real, despite the noise

Vigna countered the negative market and media reaction by pointing to actual buyer behavior. "There is strong interest, including from new clients," he said, confirming that Ferrari showed the Luce to 1,600 customers at the Rome launch before opening order books .

"We've already received bank transfers, clients who were there want it," Vigna added, though he declined to provide specific pre-order figures at the time of his remarks . The claim is significant: it positions the Luce as a commercial draw even amid the design backlash.

3. The Luce is an addition, not a replacement

Perhaps the most strategically important message was Vigna's explicit rejection of the idea that the Luce signals the end of Ferrari's combustion legacy. "The heavy media exposure may have suggested a phase-out of traditional engines, but this is not the case," he clarified. "As previously stated, we will continue to produce all types of powertrains, because the ultimate decision lies with the customers" .

This "and" not "or" strategy is the linchpin of Ferrari's electrification plan. The company revised its 2030 powertrain mix to 40% internal combustion, 40% hybrid, and just 20% fully electric—down from an earlier 40% EV target set in 2022 . Vigna confirmed that in 2026 alone, Ferrari will produce a hybrid Testarossa and an internal combustion engine model alongside the Luce .

What the Luce actually is

The vehicle itself represents a departure from Ferrari's traditional two-seat sports car formula. The Luce is:

• The first five-seat, four-door Ferrari, designed as a Gran Turismo for high-net-worth families
• Powered by four electric motors (one per wheel) delivering over 1,000 hp, with a 0-100 km/h time of 2.5 seconds
• Capable of a top speed above 310 km/h (193 mph), with a WLTP range of approximately 530 km
• Built with a 122 kWh battery on an 800-volt architecture supporting 350 kW DC fast charging
• Designed in collaboration with Jony Ive's LoveFrom studio, featuring materials like anodized aluminum that Ferrari had not used extensively before
• Priced at €550,000 with first deliveries scheduled for Q4 2026 in Europe and Q2 2027 in the United States

The car weighs more than 2.2 tons and includes a 600-liter trunk—a practical spec sheet that, combined with the LoveFrom-influenced design, led critics to compare it to mass-market EVs and luxury appliances rather than traditional Ferraris .

The market's brutal verdict

The stock reaction was immediate and punishing. Ferrari shares in Milan fell as much as 8.4% on May 26, while U.S.-listed ADRs dropped 5.3% . Analysts attributed the decline to what some called "design hate" and a classic "buy the rumor, sell the news" dynamic . One investor told Reuters the stock was "being penalized for an aesthetic disappointment" .

The selloff came despite Ferrari's strong order backlog extending into 2027 and positive Q1 2026 financial results, underscoring how much the market's reaction was driven by perception rather than fundamentals .

The competitive landscape: a counter-cyclical bet

Ferrari's push into EVs is happening as key rivals are pulling back. Lamborghini scrapped its plans for a fully electric model and has focused instead on plug-in hybrids . Porsche, too, scaled back its EV ambitions in the face of softer-than-expected luxury EV demand .

Vigna's positioning of the Luce as complementary rather than transitional is designed to give Ferrari strategic flexibility. By keeping all three powertrain types in production, Ferrari can absorb whatever direction luxury demand takes over the next decade while maintaining premium pricing and brand exclusivity.

This approach also explains the revised 2030 targets. The original 2022 plan called for EVs to make up 40% of Ferrari's lineup by 2030 . The new target of 20% fully electric reflects a pragmatic assessment that high-net-worth buyers are not abandoning combustion engines at the pace regulators once predicted—and that Ferrari's clientele values choice above all else.

Vigna's defense of the Luce is ultimately a defense of that choice. The car exists not because Ferrari was forced to build it, his argument runs, but because some customers wanted it, and because Ferrari could engineer something no one else had attempted. Whether the market ultimately agrees will depend less on the CEO's words and more on how the Luce performs when deliveries begin in October 2026.