Questions raised on ₹6 crore electric Ferrari:Shares fall 8%; CEO says its not about price rather about innovation value

A debate has erupted worldwide over the approximately ₹6 crore price tag of Ferrari’s first electric car ‘Luce’. After the launch, the company’s shares fell by up to 8%. Investors raised questions, and criticism began from Italy’s political corridors to the auto industry. However, Ferrari’s CEO Benedetto Vigna is justifying this price. He says that this is not just an electric car, but a rare real innovation. At a round table meeting in Modena, Vigna said that Luce cannot be compared with Chinese or other electric cars available in the market. The level of engineering, design and technology used behind this model is the biggest reason for its high price. Vigna claims that this car has attracted new customers who are looking for a different kind of luxury. Actually, 6 crore rupees is not its price, it’s the value of innovation. Separate motors for all four wheels; 0-96 km/h speed in just 2.5 seconds Technology – What makes the Luce special is its 4-motor technology. Common electric cars have one or two motors. This supercar has separate motors for all four wheels. Ferrari claims that this very technology makes it the most advanced electric supercar. Speed – The Luce can accelerate from 0 to 96 kilometers per hour in just 2.5 seconds. Its top speed is 309 km/h. The company argues that achieving such speed and control requires extremely complex technology and heavy investment. Design – Its body is designed in such a way that the air vents, cuts and aerodynamic elements typically visible in sports cars are almost completely hidden. This very feature makes it the most special sports car, in which considerable investment has been made. First 5-seater Ferrari, designed by Apple’s designer – The Luce’s futuristic and minimalist look has been created by the design agency of Jony Ive, Apple’s former Chief Design Officer. – Ferrari has primarily made 2-seater sports cars until now, but the Purosangue is the company’s first 4-door 5-seater car. – The skateboard platform provides more space in it. The technology and almost every part of this car has been made at the Maranello plant in Italy itself. It has not been outsourced.