Ferrari's first electric vehicle, the Luce, has ignited a wave of criticism from both fans and investors, resulting in an almost 8% decline in the company's share prices following its unveiling. Priced at £475,000 and designed in collaboration with former Apple chief designer Jony Ive, the Luce's futuristic appearance has been labeled as 'polarising' by many, including former chairman Luca di Montezemolo, who warned it risks damaging the brand's iconic status. Critics have drawn comparisons to outdated concept cars, asserting that it fails to embody the essence of Ferrari. The backlash extends beyond fans, with political figures in Italy also voicing their disapproval. Despite the negative reception, Ferrari's executives remain optimistic about the model's acceptance among tech-oriented clientele, emphasizing that the priority is to secure orders rather than appease traditional customers. The Luce's development has been lengthy, reflecting broader market fluctuations in electric vehicle demand, which have seen other luxury brands retreat from their EV initiatives.