Ferrari’s new EV is a lesson on how to vandalize a glorious global brand
Ferrari has unveiled its first fully electric model, the Luce, which has received overwhelmingly negative reviews. Critics have compared its design unfavorably to more mundane vehicles, raising concerns about the brand's identity. The launch has led to a significant drop in Ferrari's share price, as investors worry about the company's direction in the evolving automotive market.
- ▪Ferrari's new EV, the Luce, has been criticized for its design, which some say resembles a Toyota Prius.
- ▪The car features four doors and five seats, including latches for baby seats, which is a departure from Ferrari's traditional image.
- ▪Ferrari's share price fell by 30 percent over the past year following the Luce's unveiling.
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Open this photo in gallery:Pope Leo XIV and Ferrari chairman John Elkann posing by Ferrari's first fully electric model (Luce) during the car's presentation to the Pope at his residence in Castel Gandolfo.Supplied/Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountEnzo Ferrari was a visionary entrepreneur. But what made him great was not so much his ability to assemble the best techies, designers and racing drivers; it was his marketing genius. Enzo knew his company wasn’t flogging cars per se. “I don’t sell cars; I sell dreams,” he reportedly once said. To him, buying a Ferrari was all about passion. His generally red machines were fast, sultry, noisy, mostly gorgeous and thrilling on both the racecourse and the road.
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