Lamborghini CEO backs EV exit after Ferrari snub

• Ferrari shares fell after the Luce EV design faced online backlash
• Former chairman Montezemolo says the new design destroys a legend
• Lamborghini CEO says cancelling EV plans was the right decision

New Delhi:Ferrari Luce faced a lot of backlash online, with the design not really working for most enthusiasts. Designed by LoveForm, a firm co-founded

by former Apple Design Chief Jony Ive, the design does feel like a major step away from the usual design language of the brand.

Despite making a power in excess of 1000 hp, the general view has been that Ferrari couldn’t bring the aspirational charm that every one of their cars has had so far.

Reacting to the backlash, rival luxury maker, Lamborghini CEO Stephan Winkelmann, told CNBC that cancelling his brand’s EV plans was actually the right choice. The brand had decided to kill the all-electric Lanzador and a version of its Urus SUV in order to focus more towards plug-in hybrid electric vehicles, which was actually the right step, although noted that every brand has to choose for themselves.

Lamborghini, which is owned by Volkswagen, was one of the many automakers that went back on their EV investments owing to poor demand. 

Ferrari ex-boss joins the long line of critics

For Ferrari, the news was bad, seeing about an 8 per cent fall on Tuesday in Milan and a 5.3 per cent fall in New York following the unveiling of the Luce on Monday in Italy. Joining the long line of people who have to say something against the car was Luca di Montezemolo, former Ferrari chairman serving between 1991 and 2014.

Perhaps the most qualified to talk about the Ferrari, Montezemolo told askanews, knowing that they were “destroying a legend”. Humorously, Montezemolo said that he hoped the brand would delete the prancing horse logo. The longest head honcho since Enzo Ferrari wasn’t happy with the Ferrari bringing something without a combustion engine. 

Funnily enough, apart from the usual front and back badging, customers can also order the Luce with a silver Prancing Horse on the front doors. Another alternative is that the EV can be had with Scuderia Ferrari shields on the front fenders. The sad part of the backlash is that it is just the looks that have been criticised, and not driving dynamics. However, even if it performed well, you don’t want to walk away from a car that costs a handful but doesn’t look the deal.