Ferrari’s Electric Nightmare: The Legend Is Vanishing, And Luca Screams

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Former Ferrari chairman Luca di Montezemolo has declared that the brand’s first all‑electric car may cause “the destruction of a legend.” He half‑jested that at least the Chinese would own the nightmare and not replicate it.

Unveiled in Rome on May 25, the Luce carries a price tag of €550,000 and roars over 1,000 horsepower from four inscrutable electric motors. Deliveries are slated for the fourth quarter of 2026.

– La Gazzetta Ferrari (@GazzettaFerrari) May 25, 2026

A Public Verdict from Ferrari’s Former Boss

Montezemolo made his plea at the sidelines of a business conference in Rome. He first warned Italian journalists that speaking out might “damage” Ferrari, then defied the notion and aired his anxieties anyway.

“Yes, we risk the destruction of a legend,” Luca di Montezemolo, former Ferrari chairman said.

He even suggested stripping the prancing horse from the car’s silhouette. Online chatter echoed the skepticism, with the Luce’s styling compared to a Honda Accord and a high‑end kitchen appliance.

Ferrari’s RACE shares fell more than 6 % in Milan trading, wiping out roughly €3 billion in market value. The stock dipped similarly in U.S. pre‑market sessions.

Vigna Stands Behind the Vision

Chief Executive Benedetto Vigna described the Luce as the product of five years of careful work. He rejected the notion that revolutionary ideas sprout from consensus.

“Real innovation is not democratic. Breakthrough ideas rarely emerge from immediate consensus,” Benedetto Vigna, Ferrari CEO said.

He added that balancing courage with responsibility and tradition with modernity defines the project from day one. Vigna claimed he is “profoundly proud” of what the team has built.

The Luce was designed by LoveFrom, the studio formerly led by Apple’s Jony Ive. Ferrari has filed more than 60 patents associated with the vehicle.

The car can seat five occupants, tops 310 kph, and boasts a claimed range of over 500 kilometres on a 122 kWh battery.

The RACE slide highlighted a broader trend, contrasting sports‑car stocks with the relative steadiness offered by major sports franchises like the FIFA World Cup, poised to attract attention as summer 2026 approaches.

A Wider Moment of Investor Caution

Ferrari wasn’t the sole brand facing scepticism this week. Peter Thiel‑backed Enhanced Games plunged roughly 50 % after a lukewarm Las Vegas debut.

Meanwhile, SpaceX filed an IPO that posted a $4.28 billion Q1 loss yet drew record investor interest, underscoring how markets can be wildly divided over ambitious pivots.

Ferrari confirmed it will keep producing combustion‑engine models alongside the Luce. The long‑term investor case for its electric shift now hinges on whether Q4 deliveries can turn early headlines into sustained demand.

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2026-05-27 13:11