Ferrari's CEO, Benedetto Vigna, defended the hefty price tag of $640,000 for the Luce, the luxury carmaker's inaugural fully electric vehicle, unveiled earlier this week. The announcement led to an 8% drop in Ferrari's stock, prompting Vigna to clarify that the pricing reflects the innovation behind the model. He emphasized that the Luce should not be compared to electric vehicles from other manufacturers, stating, "You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands." The car's unconventional design has drawn criticism from various quarters, including the former Ferrari CEO and Italy's transport minister. Despite the backlash, analysts believe the investor reaction is premature, as the stock showed signs of recovery, closing up 1.7% on Thursday. Vigna described the Luce's launch as a significant milestone for Ferrari, symbolizing the beginning of a new chapter in the company's evolution, while also stressing the importance of respecting new technology in design.