Sorry, haters. Ferrari’s first EV is doing just fine

Sometimes the crowd isn’t so wise. When Ferrari revealed the Luce — its first EV — to the public in May, the internet reacted. And not in a positive way. Critics compared the wedge-shaped Luce with a Nissan Leaf and said Chinese EVs would outperform it while undercutting it on price. Even former Ferrari chair Luca Cordero di Montezemolo was among the haters. Ferrari’s stock dropped 8% the day after the reveal. Their conclusion: the Luce would be a dud. It turns out, the armchair auto 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 report by the Financial Times. The automaker was hoping to sell just under 500 of the €555,000 EVs ($630,000), and based on previous reports, it sounds like at least 20% will make their way to China. That’s not surprising, given that the Luce seems tailor-made for the Chinese market, which favors fast, sleek four-door EVs. TechCrunch has reached out to Ferrari to confirm the figures, and we’ll update this article if we receive a reply. Much of the internet’s hate was directed at the Luce’s styling, which hewed to some Ferrari norms while throwing others out the window. Appearance is subjective, and I’ve seen enough cars in my day to know that some designs don’t translate well on screen. Maybe seeing one in person tipped buyers into placing an order. What’s more, 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 several models, so it’s also not difficult to imagine 500 of them wanting a practical vehicle that’s also a Ferrari. Is the Luce worth the price of admission? Early reviews suggest that it drives like a Ferrari should. Plus, it has the prancing horse on the hood. That appears to be all Ferrari needs to succeed. When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence. Tim De Chant is a senior climate reporter at TechCrunch. He has written for a wide range of publications, including Wired magazine, the Chicago Tribune, Ars Technica, The Wire China, and NOVA Next, where he was founding editor. De Chant is also a lecturer in MIT’s Graduate Program in Science Writing, and he was awarded a Knight Science Journalism Fellowship at MIT in 2018, during which time he studied climate technologies and explored new business models for journalism. He received his PhD in environmental science, policy, and management from the University of California, Berkeley, and his BA degree in environmental studies, English, and biology from St. Olaf College. You can contact or verify outreach from Tim by emailing . View Bio