Lamborghini CEO Glad He Chose Hybrids as Ferrari's Luce EV Faces Heavy Backlash

Lamborghini’s Stephan Winkelmann says canceling the company’s pure electric program was the correct move as Ferrari’s Luce faces heavy backlash. The Luce’s reception contributed to a market reaction that saw Ferrari’s shares slide about 8%, wiping roughly $5.38 billion in value overnight, according to MotorBiscuit reporting. Lamborghini scrapped its all-electric Lanzador and Urus programs in favor of plug-in hybrids, arguing the market’s acceptance of EVs among its customers does not show a clear upward trend. Winkelmann told CNBC that transitioning to plug-in hybrids was important and that every brand must pursue its own strategy rather than focusing on rivals. Industry observers say fans are disappointed that Ferrari embraced the EV path, potentially diluting the supercar persona built on combustion power and iconic design. Morningstar’s Michael Field noted the backlash while noting that the Luce remains a test of Ferrari’s willingness to redefine expectations. Analysts will watch whether the model gains traction or if Ferrari adjusts its strategy as the EV era evolves.