Former Ferrari chairman Luca di Montezemolo has sharply criticized the automaker's new all-electric model, the Luce, suggesting it is so unappealing that even Chinese manufacturers would not copy it.
Speaking to Italian publication Askanews shortly after the Luce's unveiling, di Montezemolo expressed his dismay.
>>> Joe Mazzulla Wins First Career NBA Coach of the Year Award
"If I had to say what I really think, I would be hurting Ferrari," he said.
"We're risking the destruction of a legend, and I'm very sorry about that. I hope they at least remove the Prancing Horse from that car.
This is surely a car that at least the Chinese won't copy from us."
The remark is seen as a veiled jab at Xiaomi, whose YU7 SUV launched last year bore a strong resemblance to the Ferrari Purosangue.
Political and Market Backlash
Italy's Deputy Prime Minister and Transport Minister Matteo Salvini also weighed in on X, writing: "It looks nothing like a (Ferrari).
>>> Dutch Journalist Slams Demi Vollering for AI-Generated LinkedIn Post
Is this supposed to be 'innovation'? Who knows what Enzo Ferrari would say."
The criticism comes as Ferrari's shares dropped 8.4% in Italy and 5.1% in the US following the Luce's debut.
The company has positioned the Luce to attract a new generation of environmentally conscious wealthy buyers, but the initial reception has been harsh.
While the interior, designed by Jony Ive's LoveFrom agency, has been praised for its physical controls, the exterior has drawn widespread criticism.
>>> De Minaur Advances After Blockx Withdraws Due to Ankle Injury
Di Montezemolo's comments echo those of Ive, who earlier warned the car would be controversial.
