The Italian automaker unveiled its first all-electric model on Monday, calming shareholder fears that a battery-powered vehicle might accidentally provide owners with a reliable driving experience.
Ferrari shares rallied in Milan on Monday after the Italian luxury automaker unveiled the "Luce," its first all-electric model, and assured investors the vehicle would remain just as financially ruinous to operate as its combustion-engine predecessors.
Addressing widespread industry fears over a softening luxury EV market, Ferrari CEO Benedetto Vigna detailed the extensive engineering required to make a battery-powered car as temperamental and failure-prone as a traditional V12. The $500,000 vehicle features a proprietary lithium-ion architecture deliberately designed to require a full chassis disassembly just to refill the windshield wiper fluid.
There was real panic among our core clientele that an EV might just start up every time they pressed the button.
Competitors like Porsche and Aston Martin have struggled to maintain exclusivity as battery technology commoditizes vehicle performance. Ferrari executives told analysts they circumvented this hurdle by abandoning efficiency entirely. The Luce’s battery pack was meticulously engineered to drain completely if the car is parked on an incline, ensuring owners still experience the traditional anxiety of leaving their vehicle at a restaurant valet.
In addition to the mandatory $40,000 annual battery-calibration service, the Luce features an exterior acoustic generator that perfectly mimics a 110-decibel exhaust note, allowing owners to continue violating local noise ordinances without producing carbon emissions.
The automaker’s stock closed up 4% following a supplementary afternoon filing, which confirmed the vehicle’s proprietary high-voltage charging cable will cost $12,000 and instantly void the warranty if exposed to direct sunlight.