Ferrari Launches First Electric Model, Luce, Amid Market Concerns
Ferrari is finally going electric. Will the purists buy it?
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Ferrari has introduced Luce, its first all-electric sports car, priced at over $500,000. The model aims to combine performance with sustainability but faces skepticism from purists. The company has scaled back its EV ambitions, now targeting 20% electric models by 2030.
- 01Luce features a unique design with a glass and polished-aluminum frame and can reach speeds close to 200 mph.
- 02The car has a range of approximately 530 kilometers, which is less competitive compared to other EVs.
- 03Ferrari's CEO, Benedetto Vigna, noted a shift in the company's electrification strategy, reducing the target for all-electric models from 40% to 20% by 2030.
- 04The luxury EV market is facing challenges, with several competitors scaling back their electrification plans.
- 05Ferrari's stock dropped 28% following a disappointing growth forecast, raising concerns about its market positioning.
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Ferrari has unveiled Luce, its inaugural all-electric model, marking a significant shift for the iconic Italian sports car brand. Priced at over $500,000, Luce aims to combine luxury with performance, featuring a glass and polished-aluminum frame and the ability to reach speeds near 200 mph. However, the model has sparked debate among purists due to its lack of the traditional Ferrari engine roar and its design, which includes four doors and ample boot space, suggesting a shift towards a more practical luxury vehicle. The car offers a range of approximately 530 kilometers on a full charge, placing it behind competitors in the EV market. Amidst a cooling luxury EV market, Ferrari has revised its electrification goals, now aiming for 20% of its lineup to be all-electric by 2030, down from an earlier target of 40%. This change comes as the company faces investor skepticism, highlighted by a significant drop in stock value following a lackluster growth forecast.
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The introduction of Luce could influence consumer perceptions of luxury electric vehicles, particularly among high-net-worth individuals.
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