Ferrari's Luce EV Faces Mixed Reactions Amid Strong Demand

Ferrari's debut all-electric vehicle, the Luce, priced at approximately $650,000, has sparked intense debate among automotive enthusiasts. While some fans expressed strong disapproval, even comparing it to more affordable models like the Nissan Leaf, the company's CEO, Benedetto Vigna, stated that there is already notable interest in the Luce from both returning and new customers. More than 80% of Ferrari's buyers last year were repeat customers, raising the question of whether the Luce will appeal to this loyal base.

The launch of the Luce follows a similar trend seen with the Ferrari Purosangue, which initially faced criticism but has since been recognized as a successful model. Vigna emphasized that Ferrari does not require universal approval for its products, as long as demand meets production capacity.

In addition to the discussions surrounding the Luce, Texas has enacted a new law that grants its Department of Motor Vehicles greater authority over the testing and deployment of autonomous vehicles. Under the new regulations, companies must now register their AVs, making their data publicly accessible. As of now, Waymo leads with 577 registered vehicles, followed by Avride and Nuro with 317 and 47, respectively.

In business developments, notable transactions include Equip Capital acquiring a majority stake in Ryde Technology, and Harley-Davidson's LiveWire completing a purchase of Dust Moto. Matternet raised $33 million, while WeRoad secured substantial funding to expand into the U.S. market. Meanwhile, Rivian announced its R2 SUV deliveries will start in June, and American Airlines will introduce Starlink for in-flight Wi-Fi on over 500 Airbus jets next year.