Despite being criticized, the Ferrari Luce EV worth Rp. 10.5 billion sold out in China
Ferrari officially marketed its first electric car, the Ferrari Luce EV, in China. Interestingly, all the quotas allocated for the Bamboo Curtain market were immediately sold out, even though the model had previously garnered a wave of criticism until it had triggered a weakening of Ferrari's share price.
Launching from Carnewschina, Monday, June 29, Ferrari is selling Luce EV in China at a price of 3.98 million yuan or around Rp. 10.5 billion. This figure is lower than in a number of other markets after this electric car received an unexpected price cut of 7 percent.
Ferrari only allocated 88 units of the Luce EV for the Chinese market. All units were sold out in a short time. This condition raises speculation that buying the Luce EV is a kind of "brand loyalty test" that allows consumers to gain faster access to more exclusive Ferrari models.
However, the news was immediately denied by Ferrari. Ferrari's head of marketing, through The Drive, officially confirmed that the rumor was not true. Previously, the Ferrari Luce EV made its global debut in May 2026.
As Ferrari's first mass-produced electric car, the Luce EV received more criticism than praise after it was introduced to the public. Many fans consider the electric sedan's design to be too far from the Ferrari character that has long been synonymous with exotic Italian supercars.
Criticism also came from former Ferrari boss Luca Di Montezemolo, as well as Deputy Prime Minister of Italy Matteo Salvini. They judged that the electric car lost the Ferrari soul that had been known for its strong engine performance and emotional design.
The wave of negative responses even had an impact on Ferrari's stock performance. After the official launch of the Luce EV, the Italian manufacturer's shares reportedly fell by around 8 percent on the Milan Stock Exchange. A number of analysts assessed that the decline was triggered by the design hate phenomenon, namely the public's rejection of the design of the Ferrari Luce EV.