Apologies, critics: Ferrari’s first EV is flourishing!

Sometimes, the crowd’s judgment can be misleading.

In May, when Ferrari introduced the Luce — its first electric vehicle — the public reaction was quite negative.

Critics compared the wedge-shaped Luce to the Nissan Leaf, suggesting that Chinese EVs would outperform it while being cheaper. Even former Ferrari chairman Luca Cordero di Montezemolo joined the chorus of detractors. As a result, Ferrari’s stock dropped by 8% the day after the launch, leading many to speculate about the Luce’s potential failure.

However, it seems these amateur automotive analysts failed to appreciate the five-seater designed by Jony Ive and his firm, LoveFrom.

According to a report from the Financial Times, Ferrari reached its sales goal for the Luce in just two months. The company set a target to sell nearly 500 units of the €555,000 EV ($630,000), with earlier indications that at least 20% of these will be sold in China. This aligns well, as the Luce appears to cater perfectly to the Chinese market, which favors fast, stylish four-door electric vehicles.

TechCrunch has reached out to Ferrari for confirmation of these sales figures and will update the article upon receiving a response.

Much of the early criticism of the Luce revolved around its design, which retains some Ferrari traditions while letting go of others. Given the wide variation in aesthetic preferences, I’ve seen enough vehicles to know that certain designs may not photograph well. Perhaps experiencing the car in person influenced buyers’ decisions to place their orders.

Additionally, Ferrari has a loyal and wealthy customer base. Last year, the company achieved sales of over 13,000 cars, a remarkable number for a luxury automaker. With many Ferrari owners owning multiple models, it’s plausible that 500 would look for a practical option that still embodies the Ferrari brand.

Is the Luce’s price warranted? Early reviews suggest that it offers the driving experience one expects from a Ferrari. Plus, it flaunts the iconic prancing horse on its hood, which appears to be all Ferrari needs for success.