GBAF Logo
Ferrari CEO defends LUCE EV pricing, says won't replace other engines - Finance news and analysis from Global Banking & Finance Review
Finance

Ferrari CEO defends LUCE EV pricing, says won't replace other engines

Published by Global Banking & Finance Review

Posted on May 28, 2026

1 min read

· Last updated: May 28, 2026

Add as preferred source on Google
Finance Banking Markets

Ferrari CEO Says LUCE EV Price Reflects Innovation, Will Not Replace Engines

Ferrari's Approach to Electric Vehicles and Engine Tradition

MODENA, Italy, May 28 (Reuters) - Ferrari's chief executive said on Thursday strong media attention around its first all-electric car Luce may have led some to believe the luxury sports car group would replace other, traditional engines, but stressed that was not the case.

Media Attention and Misconceptions

Commenting on the high price of the new electric model, CEO Benedetto Vigna said it was fair to pay for innovation.

Innovation and Pricing Strategy

"You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands," Vigna told a round table in the city of Modena.

Industry Comparison and Unique Value

(Reporting by Giulio Piovaccari in Modena, writing by Giulia Segreti, editing by Crispian Balmer)

Key Takeaways

  • Luce’s €550,000–$640,000 starting price reflects its advanced design, quad‑motor setup and ultra‑luxury positioning (macrumors.com)
  • Vigna underscores that Ferrari isn’t abandoning combustion or hybrid models—the Luce is an addition, not a replacement (ansa.it)
  • The Luce’s radical design and four‑door layout, co‑created with LoveFrom (Jony Ive & Marc Newson), has sparked both intrigue and criticism, reinforcing its deliberately polarizing intent (wallpaper.com)

References

Frequently Asked Questions

Is Ferrari's LUCE electric vehicle replacing traditional engines?
No, Ferrari CEO Benedetto Vigna stated LUCE will not replace other traditional engines.
Why is the LUCE EV priced higher than other electric cars?
CEO Vigna explained that LUCE's high price reflects the innovation and quality unique to Ferrari.
How does Ferrari's LUCE differ from other electric vehicles?
According to Vigna, LUCE is fundamentally different from Chinese EVs and those by other brands.
What did the Ferrari CEO say about media perceptions of LUCE?
He said strong media focus may have created the false impression LUCE would replace Ferrari's existing engines.

Tags

Related Articles

Image for Hungarian PM Magyar says deal on EU funds close

Hungarian PM Magyar says deal on EU funds close

Image for Extreme heat could cost Germany up to $131 billion by 2030, analysis shows

Extreme heat could cost Germany up to $131 billion by 2030, analysis shows

Image for Poland to finalise $27 billion in military deals under EU SAFE by end-May, PM says

Poland to finalise $27 billion in military deals under EU SAFE by end-May, PM says

Image for ECB's decision to hold rates was close call for some, accounts show

ECB's decision to hold rates was close call for some, accounts show

Image for Russia ratchets up pressure on Armenia ahead of June election

Russia ratchets up pressure on Armenia ahead of June election

Image for Russia say Europe should show some proof of claims about jamming GPS signals

Russia say Europe should show some proof of claims about jamming GPS signals

More from Finance

Explore more articles in the Finance category

Image for BP set to take over offshore natural gas project in Azerbaijan, sources say
BP set to take over offshore natural gas project in Azerbaijan, sources say
Image for German-Dutch corps to lead NATO land forces in Estonia and Latvia
German-Dutch corps to lead NATO land forces in Estonia and Latvia
Image for Best Buy forecasts upbeat sales on steady gadgets demand, ads and marketplace growth
Best Buy forecasts upbeat sales on steady gadgets demand, ads and marketplace growth
Image for Private equity firm EQT partners with Google Cloud for AI rollout
Private equity firm EQT partners with Google Cloud for AI rollout
Image for Spain's eDreams shows resilience in face of growth concerns, shares jump
Spain's eDreams shows resilience in face of growth concerns, shares jump
Image for FTSE 100 set to snap seven-day win streak as renewed US-Iran conflict weighs
FTSE 100 set to snap seven-day win streak as renewed US-Iran conflict weighs
Image for Croatian economy rises 2.2% year-on-year in the first quarter
Croatian economy rises 2.2% year-on-year in the first quarter
Image for Exclusive-Pentagon says US military personnel are reportedly being targeted using location data
Exclusive-Pentagon says US military personnel are reportedly being targeted using location data
Image for Temu fined $232 million for breaching EU rules on sale of illegal products
Temu fined $232 million for breaching EU rules on sale of illegal products
Image for JD.com's Ceconomy deal faces full-scale EU subsidy investigation
JD.com's Ceconomy deal faces full-scale EU subsidy investigation
Image for EU says jet fuel market to get tighter if Hormuz situation does not improve
EU says jet fuel market to get tighter if Hormuz situation does not improve
Image for Sterling drops as Middle East tensions, domestic politics weigh
Sterling drops as Middle East tensions, domestic politics weigh
View All Finance Posts