They detonated the electric Ferrari, knocked down the brand’s stock on the stock exchange, and it sold out in China anyway

Failure? Nothing, apparently: Ferrari quickly sold the entire quota of the Luce destined for China. The brand’s first all-electric sedan had the 88 units reserved for the country sold out almost immediately, despite the criticism surrounding its world premiere.

Presented in Rome at the end of May, the model reached the Chinese market for about R$ 3.04 million (3,988,000 yuan, or US$ 586.6 thousand), a value about 7% lower than the European one after currency conversion, an unusual advantage for the Chinese consumer of imported super sports cars.

The debut divided opinions as it marked two milestones for the Italian manufacturer: it is the first regular production sedan and also the first 100% electric Ferrari. Part of the enthusiasts criticized the more discreet look and the concept aimed at everyday use, pointing out a departure from the brand’s traditional identity. The reactions even momentarily shook investor confidence and contributed to a drop in Ferrari shares shortly after the presentation. In the following weeks, the company also promoted a change in the command of its commercial area.

Even so, the performance in China confirmed the forecast of Chief Executive Benedetto Vigna, who already said that Luce had been registering strong demand. The exhaustion suggests that criticism on social networks had little influence on the purchase decision of the brand’s very high-income audience.

On paper, Luce faces cheaper and even faster Chinese rivals. The BYD Yangwang U9, an electric super sports car, costs about half as much and delivers more power, acceleration and recharging speed. The GAC Hyptec SSR starts at 1,286,000 yuan (close to US$ 189,200) — for the price of a Luce it would be possible to take about three of them — and its fastest version goes from 0 to 100 km/h in just 1.9 seconds.

Ferrari, however, is betting on another position. The Luce has been designed as a five-seater electric Gran Turismo, which combines everyday use with the prestige of the Maranello emblem. According to industry observers, very few of the 88 Chinese buyers actually compared the Italian to local alternatives: for this audience, the car is worth more as a status symbol than as a technical sheet.

Equipped with four electric motors, one on each wheel, the Luce develops 1,050 hp and, despite weighing 2,260 kg, accelerates from 0 to 100 km/h in 2.5 seconds, exceeds a top speed of 310 km/h and offers a range of more than 530 km. The 122 kWh battery, whose structure was developed in Maranello, operates in an 800-volt architecture and accepts recharges of up to 350 kW.