Ferrari's First EV 'Luce' Divides Critics and Investors: Jony Ive's Design Under Fire

Ferrari has unveiled its first electric vehicle, the Luce, with a starting price of $640,000. The car features a minimalist design by former Apple design chief Jony Ive, but the look has proven divisive among analysts and fans, leading to a drop in Ferrari's share price.

The Luce boasts a range of 329 miles on a 122 kWh battery, with four motors accelerating from 0 to 100 km/h in 2.5 seconds and a top speed over 310 km/h. It is the first Ferrari with five seats and only the second with four doors, targeting wealthy families over sportscar enthusiasts.

CEO Benedetto Vigna stated: "We are convinced that a company demonstrates its leadership when it has the courage to dare and to take on the challenge of new technologies. Ferrari Luce was born precisely from this challenge, offering our unprecedented vision of electrification."

However, critics argue the design strays too far from Ferrari's heritage. Pierre-Olivier Essig of AIR Capital described the Luce as a "mix between a Honda Accord EV and Tesla 3," questioning the brand's new strategy.

The Luce was developed with LoveFrom, the studio Jony Ive founded after his tenure at Apple. Despite the electric powertrain, Ferrari includes a motor sound played through speakers to appeal to traditionalists.

Ferrari's share price fell up to 8% on the day of the launch, reflecting investor uncertainty. The company has scaled back its electrification targets, now aiming for 40% internal combustion, 40% hybrid, and 20% electric by 2030.