Ferrari’s first fully electric vehicle has triggered a wave of controversy in Italy, intensifying scrutiny of the luxury carmaker’s strategic direction and reigniting debate over the leadership of John Elkann, the scion of the Agnelli family and executive chair of Ferrari and holding company Exor. The unveiling of the €550,000 electric model, named “Luce”, has divided enthusiasts, former executives, and political figures, many of whom see the vehicle as a symbolic rupture with Ferrari’s combustion-engine heritage and its decades-long identity as one of Italy’s most iconic industrial brands.
The Luce’s futuristic styling and unconventional proportions have drawn particularly strong criticism, with Transport Minister Matteo Salvini claiming that Ferrari founder Enzo Ferrari would be “turning in his grave”. The backlash reflects broader unease in Italy about the direction of companies historically tied to national identity, as well as concerns over Elkann’s long-term stewardship of the Agnelli industrial empire, which spans Exor, Stellantis, and Ferrari itself. The EV project was developed over roughly five years in collaboration with former Apple design chief Jony Ive and designer Marc Newson, a partnership reportedly rooted in Elkann’s personal relationships with both figures.
At the vehicle’s launch, Elkann defended Ferrari’s strategic shift toward electrification, saying the company had made a “deliberate decision to lead what comes next”. However, critics argue that the move represents a broader detachment of Agnelli-controlled assets from Italy’s industrial base. The Agnelli family, historically one of the most influential industrial dynasties in Europe, built its legacy through Fiat, once Italy’s largest private-sector employer, and long held a quasi-royal status in Italian economic life. Over the past two decades, Elkann has overseen a restructuring of that empire through mergers and asset sales, a process critics say has diluted its national identity.
Former industry minister Carlo Calenda, who also previously worked at Ferrari, described the Luce as “an aesthetic and technological insult” in a televised interview, accusing Elkann of dismantling Italian industrial heritage. He further claimed that decisions under Elkann’s leadership have weakened key national companies, including Stellantis and other former Agnelli-linked assets. Exor, speaking on behalf of Elkann, declined to comment on the criticism.
Since taking control of the Agnelli group around 20 years ago, Elkann has overseen the sale or restructuring of several major companies once considered pillars of Italian industry, including Iveco, Magneti Marelli, and media group GEDI, publisher of La Repubblica and La Stampa, which was sold this year to a Greek investor. Fiat was absorbed into Stellantis following its merger with PSA Group, raising ongoing concerns about the future of Italian automotive production. Despite this, Ferrari remains a cornerstone of Exor’s portfolio, accounting for roughly one-third of its total assets, while Stellantis continues to employ more than 30,000 workers in Italy.
The controversy surrounding the Luce has also spilled into public discourse online, where critics accuse Elkann of dismantling industrial icons, while supporters describe the transformation as necessary adaptation to global technological change. Some commentators have even suggested relocating Exor’s headquarters from Turin to the Netherlands, where the company is legally based, arguing that its leadership is increasingly disconnected from its Italian roots. Others, however, have praised the EV strategy as forward-looking, arguing that Ferrari must evolve or risk irrelevance in a rapidly electrifying global automotive market.
One Italian brand expert with a large online following said Ferrari’s move could be understood as a long-term survival strategy, comparing it to the decline of once-dominant technology firms such as Nokia, BlackBerry, Kodak, and Blockbuster. According to this view, Ferrari is deliberately targeting future generations of customers who will grow up in an electric-first automotive landscape. “Ferrari has taken a risky bet, but it is looking beyond today’s customers,” the commentator said. “Its future clients are 14 years old now, grew up with Teslas and may not care for a noisy combustion engine.”
The intensity of the reaction underscores Ferrari’s unique cultural position in Italy, where the brand is closely tied to national pride, engineering excellence, and sporting legacy. The prancing horse emblem, or cavallino rampante, remains one of the country’s most recognisable symbols, reinforcing the emotional weight attached to any strategic shift by the company. Rival Lamborghini appeared to respond indirectly to the debate by posting an image of its hybrid V12 Revuelto on social media, accompanied by the caption “Proud to keep you dreaming,” drawing thousands of supportive comments from users praising its adherence to traditional performance values.
Although Lamborghini did not explicitly reference Ferrari, automotive enthusiasts widely interpreted the post as a contrast to Ferrari’s radical electrification strategy. The debate escalated further when Ferrari presented the Luce to Pope Leo XIV and Italian President Sergio Mattarella, with images of the leaders inside the vehicle circulating widely online and prompting additional criticism from opponents who accused the company of seeking symbolic endorsement for a divisive product.
Despite the backlash, Ferrari executives have remained confident in the company’s direction. Chief executive Benedetto Vigna said at a public event in Modena that demand for the new model was strong and growing, pointing to both repeat buyers and new customers entering the brand’s ecosystem. “Look at the people writing to us, the people placing orders,” Vigna said. “Some are existing clients and others are new.” Piero Ferrari, son of the company’s founder and a shareholder, also defended the project, urging critics to experience the car firsthand. “Try it, drive it, and you might change your minds,” he said.
