Ferrari’s $640,000 EV Is Quite a Stretch

Summary

---

Podcast Summary: Bloomberg Businessweek

Episode: Ferrari’s $640,000 EV Is Quite a Stretch
Date: May 27, 2026
Hosts: Carol Massar, Tim Stenovec
Guest: Hannah Elliott (Bloomberg Pursuits staff writer, car critic, co-host of Hot Pursuit podcast)

---

Episode Overview

This episode delves into Ferrari’s foray into the electric vehicle (EV) market with its much-anticipated, and highly controversial, $640,000 all-electric supercar—the Ferrari Luce. Hosts Carol Massar and Tim Stenovec are joined by automotive journalist Hannah Elliott to dissect the backlash surrounding the design, brand implications, pricing, and who this car is actually for. The conversation situates Ferrari’s EV gamble within broader shifts affecting luxury and performance carmakers in an electrifying world.

---

Key Discussion Points & Insights

1. The Ferrari Luce Launch and Initial Backlash

Timestamps: 02:05–03:29

• Market Reaction: Ferrari shares dropped over 9% in Italy following critical early reviews of its first full EV.
  • Carol Massar: “Shares of Ferrari did not fare as well as shares of Micron today… critics panned the look of its first fully electric vehicle” (02:05).
• Design Criticisms: An analyst compared the design to a “combination of a Honda Accord and a Tesla 3” (02:25).
• Hannah Elliott’s Take: The core issue isn’t just the look, but what it means for Ferrari’s storied identity.
  • Hannah Elliott: “It’s sacrilege to the religion that Enzo Ferrari created… Enzo famously said, ‘I don’t make cars, I make engines.’ So the fact that this is an EV…is just…an affront to the people who love Ferrari for what it used to be” (03:29).

2. Heritage, Brand, and the ‘Soul’ of Ferrari in the EV Era

Timestamps: 03:29–04:46

• Ferrari’s Legacy: The expectation of beauty, elegance, and the symphony of combustion engines.
• New Reality: The Luce is perceived as a compliance vehicle designed to meet emissions and regulatory requirements rather than to thrill enthusiasts.
  • Hannah Elliott: “Ferrari made this car so that they will meet emissions and other regulations… So at the end of the day, it kind of doesn’t matter if investors or buyers like this car or don’t like it, they only need a small group...to buy it. And then they can keep making the cars that everyone loves” (04:46).

3. The EV Dilemma: Commoditization of Performance

Timestamps: 05:35–06:35

• Host Reflection: Carol and Tim question what really differentiates high-end EVs—with instant acceleration now being accessible at much lower price points.
  • Carol Massar: “You can find a relatively inexpensive EV…for less than 10% of the cost of this that could probably hold its own in a zero to 60 with this car. Does that mean…these things are now commodities?” (06:15).
• Price vs. Performance: Hannah points out that Chinese manufacturers are producing high-performing EVs at a fraction of Ferrari's sticker price.
  • Hannah Elliott: “China is routinely making EVs that have the same or better performance numbers for a fraction of the cost… So yes, it’s a huge problem when everything starts to able to be plugged in and it’s just run on batteries” (06:35).

4. Implications for Ferrari’s Classic Models and Collectibility

Timestamps: 06:35–07:36

• Market Prediction: As EVs proliferate, traditional combustion-engine Ferraris—especially manuals—will become increasingly valuable to collectors.
  • Hannah Elliott: “I predict any Ferraris with combustion engines, any Ferraris with manuals, will even gain more value as we see more of these [EVs] rollouts” (07:05).

5. Target Buyers and Ferrari’s Unique Selling Tactics

Timestamps: 07:36–09:28

• Buyer Profile: The $640K Luce is likely aimed at ultra-wealthy buyers in Asia and tech-forward markets, not direct competition to Tesla.
  • Hannah Elliott: “I believe that this car is made for people in Asia Primarily. And for people very interested in tech…” (07:46).
• Ferrari’s Waitlist System: Buyers are often required to purchase less desirable models to access more coveted ones—the Luce may be used to filter and reward loyalists.
  • Hannah Elliott: “You must be given the opportunity to buy these things. And how you are given the opportunity is you buy a lot of them. You buy the ones that you don’t want so you can have the opportunity to get the one that you actually do prefer” (08:45).

6. Price Comparison and Ferrari’s Future

Timestamps: 09:20–09:28

• Value Paradox: The Luce is more expensive than many of Ferrari’s most desirable traditional models (e.g., Roma, Amalfi), yet will probably be less emotionally resonant for longtime fans.

  • Hannah Elliott: “Personally, I love the Roma, I love the Amalfi. These are like these beautiful old world Ferraris that are exquisite” (09:28).

---

Notable Quotes & Memorable Moments

• On Ferrari’s new EV look:
  Hannah Elliott (03:29): “To come out with something that looks like a computer mouse…is really an affront to the tifosi. That’s sacrilege to the religion that Enzo Ferrari created.”

• On motifs and meaning:
  Hannah Elliott (04:46): “At the end of the day, this is a compliance car…They only need a small group of people, probably in Asia or the Middle East to buy it. And then they can keep making the cars that everyone loves to look at.”

• On EV commoditization:
  Hannah Elliott (06:35): “It becomes very difficult to distinguish one plug in appliance from another plug in. And I predict this will actually send the secondary market for Ferraris even higher.”

• On Ferrari’s sales strategy:
  Hannah Elliott (08:45): “You must be given the opportunity to buy these things. And how you are given the opportunity is you buy a lot of them…so you can have the opportunity to get the one that you actually do prefer.”

---

Important Timestamps

• 02:05 — Episode pivots to Ferrari’s EV and the critical reception
• 03:29 — Hannah Elliott explains the cultural backlash and Ferrari’s legacy
• 04:46 — Discussion on compliance motives and why “it doesn’t really matter” if the EV is beloved
• 06:15 — Hosts discuss commoditization of EV performance
• 07:05 — Prediction about combustion-engine Ferraris’ rising value
• 08:45 — Insights into Ferrari’s unique buyer allocation system

---

Conclusion

This episode delivers a clear-eyed look at the tension between Ferrari’s legendary brand identity and the changing realities of the car market in the electric age. Ferrari's ultra-high-priced Luce EV provokes both derision and existential questions: Is it possible to translate “soul” and exclusivity to a technology perceived as increasingly generic? Meanwhile, Ferrari’s loyal buyers and collectors may see renewed value in the combustion classics—assuming they can navigate Maranello’s infamous sales maze. For now, Ferrari’s EV is less a revolution and more a regulatory nod, wrapped in a premium price tag and brand controversy.

---

Transcript

[Narrator/Advertiser]

When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, that isn't always easy. Risk can touch multiple parts of an organization at the same time, often in ways that aren't immediately obvious. It might involve property liability or cyber. It could stem from regulatory requirements or challenges tied to a specific industry or the scale of an operation. At that level, managing risk becomes an ongoing discipline, not a one time decision. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. That means working with companies to identify where they're exposed, decide what matters most, and put practical standards in place so risk is managed as part of day to day operations. And when losses do happen, the Hartford can pair that risk control work with insurance coverage grounded in underwriting, risk engineering and claims experience developed over time. Learn [e-mail] riskmitigation this coffee shop running smooth thanks to genius from Global payments, Instant transactions, Effortless inventory and synchronized operations Big league reliability for any business, that's genius.

Everyone has been there. Your team's feedback is scattered across emails, chats and sticky notes. It's a mess, but PDF spaces in Adobe Acrobat gives you one collaborative workspace to streamline every file and comment. So if you need six departments to finally agree on a proposal, do that with Acrobat. Need to turn a mountain of feedback into one plan of action? Do that with Acrobat. Want to stop searching for files and finally get everyone on the same page? Do that, do that, do that with Acrobat. Learn more at adobe.com/do that with Acrobat. Bloomberg Audio Studios Podcasts Radio news.

[Carol Massar]

You're listening to Bloomberg businessweek with Carol

[Narrator/Advertiser]

Massar and Tim Stanvak on Bloomberg Radio.

[Carol Massar]

Shares of Ferrari did not fare as well as shares of Micron today. Ferrari shares fell in Italy more than 9%. This after critics panned the look of its first fully electric vehicle. It was a setback for the Italian supercar makers controversial P into EVs. You just spoke about this on the simulcast. You said that influencers too were pushing back on. What do they say it looked like?

[Tim Stanvak]

Yeah, everyone was insulting this car, but it wasn't even an influencer. It was actually an analyst that said that it looks like a combination of a Honda accord and a Tesla 3.

[Carol Massar]

All right, we'll see what Hannah Elliott has to say about this. She's Bloomberg Pursuit staff writer and car critic. She's the co host of the Hot Pursuit podcast. Sometimes Matt Miller joins Her. But we want to talk to Hannah about this new Ferrari. First of all, hey, you get to drive all the cars. Are you going to get to drive this thing?

[Hannah Elliott]

Yes. I fully anticipate and look forward to driving it toward the end of the year, I'm told probably December. So fingers crossed. I'm calling Ferrari every day, saying, when can I drive it?

[Carol Massar]

And this is the type of thing you'd fly to Italy to do this, or would they bring it to the

[Hannah Elliott]

US Wherever they do the launch, I will meet them wherever in the world I need to go to drive the thing. Sometimes it's Italy, sometimes it's somewhere nice during the winter, like maybe Spain. A track in Spain would be good.

[Carol Massar]

Yeah. I've also seen some great stories you've done from South Africa in the past. You don't have a bad gig, Hannah Elliot.

[Hannah Elliott]

I'm not. Someone's got to do it.

[Carol Massar]

So we thank you. So why is everybody so mad at Ferrari for this?

[Hannah Elliott]

Here's the thing. If this was lucid or Tesla that had come out with this car, I think people would be a lot happier with it. The problem is that this is Ferrari. This is the company known for the height of sophistication and beauty and elegance. And it's Italian, it's handmade, it's handcrafted. And so to come out with something that looks like a computer mouse, if you can remember back in the day we used mouses, is really an affront to the tifosi. That's the name for people who love Ferrari. It is an affront. It's sacrilege to the religion that Enzo Ferrari created. And let's not forget, Enzo famously said, I don't make cars, I make engines. So. So the fact that this is an ev, it's obviously been made to optimize efficiency, is just. It's an affront to the people who love Ferrari for what it used to be and for what it has been.

[Tim Stanvak]

Hannah, as you mentioned, to your point, the elegance that is associated with Ferrari and, of course, its cool exhaust sounds are the big part of the appeal for car lovers. Why then do investors care at all what its EV vehicle looks like?

[Hannah Elliott]

Well, that's a really very good question, because at the end of the day, this is a compliance car. Ferrari made this car so that they will meet emissions and other regulations in Europe and globally, and they can keep making the other cars that everybody loves to drive that feel like tangible experiences. So at the end of the day, it kind of doesn't matter if investors or buyers like this car or don't like it, they only need a small group of people, probably in Asia or the Middle east to buy it. And then they can keep making the cars that everyone loves to look at. So that's kind of the funny thing. At the end of the day, it doesn't really matter, but the backlash is pretty bad. I mean, there's been a lot of weeping and gnashing of teeth. So that is the. That's the slight risk. Is Ferrari somehow selling its soul? We'll see. Time will tell.

[Carol Massar]

$640,000. 550,000. Is the price of the Ferrari loose? Am I saying it right or. Lucha, what is it?

[Hannah Elliott]

Luce?

[Carol Massar]

Luce. Okay, thank you. Thank you for the quick Italian lesson. Hannah. The question about like, what separates one EV from another? Ev, I think is a really important one. It makes sense. Like you said, Ferrari always said that he built engines, not cars. And the engine, you know, those are something to behold when it comes to Ferrari, when it comes to other supercar manufacturers as well. And there are differences between those engines, but we're talking about a motor here. And I will never forget the first time I was ever in an electric vehicle and I felt the acceleration and it's just remarkable. And you can find a relatively inexpensive EV that you could buy for less than 10% of the cost of this that could probably hold its own in a zero to 60 with this car. Does that mean that when it comes to EVs, like these things are now commodities?

[Hannah Elliott]

Yes. The short answer to your question is yes. This has been a big problem for the European brands in China because China is routinely making EVs that have the same or better performance numbers for a fraction of the cost for 50, 60, $70,000 compared to 640,000. And the performance and the technology and the AI are as good, if not better. So yes, it's a huge problem when everything starts to able to be plugged in and it's just run on batteries. That is why people start to call these things appliances, because it becomes very difficult to distinguish one plug in appliance from another plug in. And I predict this will actually send the secondary market for Ferraris even higher. It's already really high. I predict any Ferraris with combustion engines, any Ferraris with manuals, will even gain more value as we see more of these rollouts.

[Tim Stanvak]

Hannah, do you have a sense yet of who is going to be buying these cars? Is it going to be competing directly with the Teslas of the world?

[Hannah Elliott]

I believe that this car is made for people in Asia Primarily. And for people very interested in tech, if a Tesla buyer or Tesla owner could afford this vehicle, then yeah, there might be some crossover. But again, this goes back to like how crazy expensive this Ferrari is. Tesla's can be had for $100,000. This is so many more times more expensive that ideologically it might be the same buyer. But on a fundamental practical basis, I think this buyer is going to be maybe strong armed into buying the Luce with the promise that, okay, if you buy this Luce now, we'll give you first dibs on the Ferrari that you really want. Cause let's not forget the. This is Ferrari's business model. They're very good about convincing people. Yes.

[Carol Massar]

Wait, wait, wait. Remind us. I was just going to bring this up and I'm so glad you did. So you can't just simply walk in and buy the Ferrari you want.

[Hannah Elliott]

No, this is like trying to get a Birkin bag or a very rare Rolex watch. You must be given the opportunity to buy these things. And how you are given the opportunity is you buy a lot of them. You buy the ones that you don't want so you can have the opportunity to get the one that you actually do prefer. So I predict that Ferrari gets a small amount of people to raise their hand. Buy the Luche with the promise that, okay, if you take this one, we'll put you high on the list for the Ferrari that you really want. And that's probably going to be a combustion or at best a hybrid.

[Carol Massar]

How much is the Ferrari that I really want?

[Hannah Elliott]

I don't know, 300,000.

[Carol Massar]

Okay, so less than, less than the Luche?

[Hannah Elliott]

Sure. Less than the Luce. I mean, personally, I love the Roma, I love the Amalfi. These are like these beautiful old world Ferraris that are exquisite.

[Carol Massar]

Well, Hannah Elliot, you do an exquisite job when it comes to doing the hard work of traveling around the world and writing incredibly great stories and doing great videos about cars.

[Narrator/Advertiser]

If you follow markets, you know the value of long term thinking. You plan, you diversify, you prepare for volatility. But in life, even the best strategies can't prevent every bad day. A fire, a loss, a disruption that demands immediate attention. When that happens, what matters isn't just what you planned. It's who shows up. That's where Cincinnati Insurance comes in. For more than 75 years, they've helped individuals and businesses navigate life's toughest moments with care, expertise, and personal attention. Together with independent agents, Cincinnati Insurance focuses on relationships, not transactions. Their approach is grounded in experience, follow through, and trust built over time. Bad days happen. And when they do, you deserve an insurance partner who understands risk, respects what you've built, and is ready to help you move forward. The Cincinnati insurance companies Let them make your bad day better. Find an independent agent@cin fin.com so as

a Pizza genius, I know pizza shop orders come from, well, everywhere. With Genius by Global Payments Online orders actually sink straight into your kitchen. It's as simple as pie. And with digital menu boards, your specials, your prices, your brand always front and center, it's one system ready for game night crowds any night of the week. Really big league reliability for any business.

That's genius from coast to coast. Unlock adventure at Red Lion Hotels by Sonesta where restful, sleep, friendly service and trusted local knowledge are part of every stay. Red lion makes it easy to feel welcomed, comfortable and connected wherever the road takes you. Whether you're traveling for business or pleasure, you can spend less and make more of every trip. When you sign up for Sonesta Travel Pass, you'll get their best rates instantly. Go to sonesta.com to book your stay and unlock the best rates with Sonesta Travel Pass here today, Rome tomorrow. Join [e-mail] terms and conditions apply.