TechCrunch Mobility: Ferrari Luce Debuts Amidst Controversy
Ferrari's first all-electric car, the Luce, has sparked intense debate. Here’s why it might not matter if people hate it.
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If you’re into electric vehicles (EVs) or sports cars, then you surely saw the kerfuffle over Ferrari’s first all-electric car, the Luce. The reaction was swift and biting for the five-seater EV designed by Apple veteran Jony Ive and priced at close to $650,000. Ferrari fans expressed horror, critics compared it to the far cheaper Nissan Leaf, memes were made, and even one car designer (Lucid’s Derek Jenkins) threw some shade.
Senior reporter Sean O’Kane asked a different question as the great Ferrari Luce debate blew up the internet: Who is the Luce for? You’ll have to read his full story to get his complete breakdown. But in my view, the most important question is whether the Luce is for existing Ferrari owners.
After all, Ferrari owners often possess more than one. According to Ferrari, there is demand for the EV. Ferrari CEO Benedetto Vigna claims the Luce is already getting orders from old and new customers. Assuming that demand outstrips the number of Luce EVs that the automaker plans to make, the next question is, who will Ferrari pick?
Ferrari could be vindicated. Remember the Ferrari Purosangue, which was widely panned when it launched several years ago? That SUV is now considered a success. Sometimes it doesn’t matter if a product is hated. Ferrari doesn’t need universal approval; it just needs enough buyers.
A New Era for Autonomous Vehicles
Let’s jump from EVs to autonomous vehicles (AVs). A new Texas law allows its Department of Motor Vehicles agency to exert more control over AV testing and deployment in the state. Companies must now license AVs in the state, and the data is public.
I found some interesting insights after spending a little time with the AV tracker tool. Waymo is far and away the leader with 577 registered AVs, followed by Avride with 317, Nuro with 47, and Tesla with 42. Self-driving truck companies Aurora, Gatik AI, Kodiak AI, and Waabi can also be found.
Fleet size is just one measure — and it certainly doesn’t always translate into whoever has the most wins. After all, many of these companies have not launched commercial services in the state yet. I’m far more interested in the complaints feature on this new tool, which is also public record. As of today, complaints have not been filed against the companies listed above.
New Deals and Investments
A single asset fund managed by Equip Capital has taken a majority stake in European e-scooter operator Ryde Technology. Goldman Sachs Alternatives is the lead investor.
Harley-Davidson’s electric motorbike spinoff LiveWire acquired electric off-road startup Dust Moto. Terms of the deal were not disclosed.
Matternet, an autonomous drone delivery company, raised $33 million in a private placement offering and completed a reverse merger with Los Altos Ventures Corp.
Revel, the EV charging company that shuttered its ride-hailing business last August, is merging with Voltera. Terms of the deal were not disclosed, but the combined business will operate under the Voltera brand and will be led by Revel CEO Frank Reig, Bloomberg reported.
Stark, a German drone maker, is in talks to raise at least €300 million ($350 million), a round that could double its valuation to €2.5 billion, the Financial Times reported.
Volara Motorsports Group, a motorsports and performance-focused holding company, acquired Lynx Motor Works, an Austin, Texas-based company that makes limited-production, reimagined classic vehicles.
WeRoad, the Milan-based group adventure travel startup, raised $58 million in a Series C round led by Airbnb. The funding brings the company’s total capital raised to roughly $100 million and will finance WeRoad’s push into the U.S., beginning with Austin.
