Stephan Winkelmann, Lamborghini's CEO, indicated in an interview with CNBC that the strong negative reaction to Ferrari's electric car, Luce, affirmed Lamborghini's decision to scrap its Lanzador electric concept and instead focus on plug-in hybrid vehicles. He explained that moving away from pure electric vehicles was "the right thing to do," though he noted that "each brand, each company has to decide for itself."

"The decision to transition from traditional internal combustion engines to plug-in hybrids was an important one for us, and it has been successful," the CEO stated.

The Lamborghini Lanzador electric concept debuted in 2023, but its production plan has since been canceled. Photo: Automotive Rhythms

Winkelmann refrained from commenting directly on Ferrari Luce or its reception. However, he emphasized that "innovation is paramount" for success, but cautioned against innovation for its own sake or imposing it on customers.

Lamborghini, part of the Volkswagen group, is among several global automakers that have scaled back investments in electric vehicles due to observed weak market demand.

Ferrari's shares dropped approximately 8% on 26/5 in Milan and 5,3% in New York following the Luce model's debut on 25/2 in Italy.

Analysts attributed part of the stock market's reaction to dissatisfaction with the Luce's design.

Many enthusiasts expressed disappointment with Ferrari embracing an electric vehicle concept. Michael Field, chief equity strategist at Morningstar, suggested that this move was perceived as undermining the supercar brand, which built its image on classic design and powerful internal combustion engines.

Designed by Jony Ive, former Apple design director, the Luce marks a significant departure from typical Ferrari aesthetics, featuring a minimalist interior and a rounded exterior.

Beyond investor concerns, the vehicle also drew considerable criticism from former Ferrari CEO Luca di Montezemolo, as well as Italy's Deputy Prime Minister and Minister of Transport, Matteo Salvini.

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