$640,000 Ferrari Luce electric car turns into a meme sensation: Unreleased Apple Car or a Magic Mouse?

The launch of Ferrari’s first-ever electric car, the Ferrari Luce, has sent shockwaves through the automotive world, Silicon Valley and social media. Priced at $640,000, the five-seater EV marks a radical departure for the iconic Italian brand, ditching the roar of a V12 for batteries and a minimalist look.

The car was co-designed by former Apple design chief Jony Ive and his firm LoveFrom, a collaboration that has quickly turned the Luce into an internet meme. While Ferrari executives describe the design as "polarizing" and intended to attract a new generation of (wealthy) tech-forward owners, the internet has reacted with a wave of jokes and skepticism.

The prevailing opinion suggests that by chasing the "Apple aesthetic" (read: by hiring Jony Ive to work on the design) Ferrari may have traded its legendary soul for consumer electronics chic, similar to when Apple launched the heavily criticized Magic Mouse.

Ferrari Luce social media reactions: Did Jony Ive’s design turn Ferrari’s $640,000 EV into a meme?

Here is a look at a handful of the funny memes and reactions taking over social media:

• The "Magic Mouse" meme: One X user shared a meme where the Ferrari Luce is laying on its back with a Lightning cable sticking out of the bottom of the car, clearly taking a shot at Jony Ive and the infamous Apple Magic Mouse.
• Is the Ferrari Luce Jony Ive’s Apple Car: One of the memes changed the branding of the Ferrari Luce to resemble the alleged "Apple Car" that never came out; in fact, many are speculating that Jony Ive "turned in his failed Apple car project" to Ferrari to make the Luce.
• Is that a toilet paper holder: The swivel, iPad-like display in the middle of the dashboard also caught some heat, most notably being compared to a toilet paper holder.
• Cupholders: Some even questioned Ferrari's choice to put cupholders in a $640,000 vehicle, viewing the convenient touch as an insult to the sporty cockpit the brand is known for.
• The Nissan Leaf meme: People are comparing the $640,000 Luce to far cheaper EVs like the Nissan Leaf, questioning if this design is fitting for a price tag nearly twenty times higher than entry-level electric cars.
• Lost for words: Many car and EV buffs seem to be lost for words, struggling to reconcile Ferrari’s aggressive heritage with the Luce’s generic EV look

Ferrari shares took a beating after controversial Luce EV announcement

The brutal public reception quickly spilled over into the financial markets, sending shockwaves through Wall Street and the Borsa Italiana. Following the reveal, Ferrari's stock plunged by nearly 8% on Tuesday morning (following the announcement).

Meanwhile, when asked about what he thinks of the Ferrari EV, Luca di Montezemolo, former Ferrari chairman, did not hold back his disappointment:

"If I said what I really think, I'd harm Ferrari. We're risking the destruction of a myth. I'm very sorry about that. I hope they at least remove the Prancing Horse (emblem) from that car."

Financial analysts note that the steep drop reflects the investor anxiety over whether Ferrari can successfully translate its ultra-luxury brand image into the EV era, or if the high research and development costs will fail to find clientele.

All that said, the EV world hasn't seen organic marketing of this level since the launch of the Tesla Cybertruck, so perhaps there is Luce at the end of the tunnel for Ferrari?