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Sorry, haters. Ferrari’s first electric vehicle is doing very well | TechCrunch

Sorry, haters. Ferrari’s first electric vehicle is doing very well | TechCrunch

Sometimes the crowd is not so wise. When Ferrari revealed the Luce, its first electric vehicle, to the public in May, the Internet reacted. And not in a positive way. Critics compared the wedge-shaped Luce to a Nissan Leaf and said Chinese electric vehicles would surpass it and undercut it in price. Even former Ferrari

Sometimes the crowd is not so wise.

When Ferrari revealed the Luce, its first electric vehicle, to the public in May, the Internet reacted. And not in a positive way.

Critics compared the wedge-shaped Luce to a Nissan Leaf and said Chinese electric vehicles would surpass it and undercut it in price. Even former Ferrari president Luca Cordero di Montezemolo was among the haters. Ferrari shares fell 8% the day after the revelation. His conclusion: the Luce would be a failure.

It turns out that armchair car executives were wrong about the five-seater that was largely designed by Jony Ive and his firm, LoveFrom.

Ferrari hit this year’s sales target for the Luce in just two months, according to a Financial Times report. The automaker expected to sell just under 500 of the electric vehicles valued at €555,000 ($630,000), and based on previous reports, it appears at least 20% will arrive in China. This is not surprising, given that the Luce seems tailor-made for the Chinese market, which prefers fast and stylish four-door electric vehicles.

TechCrunch has reached out to Ferrari to confirm the figures and we will update this article if we hear back.

Much of the Internet’s hate was directed at the Luce’s styling, which stuck to some Ferrari standards while throwing others out the window. Appearance is subjective and I’ve seen enough cars in my time to know that some designs don’t translate well to the screen. Perhaps seeing one in person prompted buyers to place an order.

Furthermore, Ferrari has an enthusiastic and price-insensitive customer base. The company sold more than 13,000 cars last year, which is a lot for an automaker that specializes in six-figure vehicles. Ferrari buyers tend to own multiple models, so it’s also not hard to imagine that 500 of them want a practical vehicle that’s also a Ferrari.

Is Luce worth the price of admission? Early reviews suggest it drives like a Ferrari should. Plus, it has the prancing horse on the hood. That seems to be all Ferrari needs to succeed.

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