Market Chatter: Ferrari Faces Criticism Over Design of $641,000 EV

MT Newswires Live

06/01

Ferrari (RACE) faces a backlash in Italy over the design of its new Luce, a fully electric vehicle which breaks away from the sports car's traditional look, the Financial Times reported Saturday.

The report cited Transport Minister Matteo Salvini, former company executives, and online influencers critical of the 550,000 euro ($641,000) car, which was designed in collaboration with a former Apple design chief over five years.

Criticism has been directed at Ferrari Chair John Elkann, the report said.

Ferrari did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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