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Jun 02, 2026
Analyzed by Llama- 4 Scout 17B 16E Instruct

Ferrari Shares Plummet After Unveiling First Electric Vehicle, Luce

AI Summary
Ferrari's share price dropped by as much as 8% after unveiling its first electric vehicle, the Luce, which features a minimalist design created by Jony Ive. The car's saloon-like design has proven divisive among analysts, with some questioning whether it lives up to Ferrari's sportscar heritage.

The Launch of Ferrari's First Electric Vehicle

Ferrari's share price has dropped after it revealed a long-awaited first electric vehicle, with a minimalist look created by the former Apple design chief Jony Ive that departs from the Italian manufacturer's petrol sportscars.

Ferrari Luce: Design and Specifications

The Luce, starting at $640,000 (£477,000), has a range of 329 miles (530km) thanks to its battery capacity of 122 kilowatt hours, the company said, with four motors that can accelerate from 0 to 100km/h in 2.5 seconds, with a top speed of more than 310km/h (193mph).

Market Reaction and Investor Sentiment

The launch was hotly anticipated, given the world's most valuable sportscar maker's totemic status among car and Formula One racing fans. However, the Luce's saloon-like design immediately proved divisive, with some analysts questioning whether it lived up to Ferrari's sportscar heritage.

  • Ferrari's share price dropped by as much as 8% in morning trading on Tuesday in Milan, before recovering to a 6% decline.
  • The carmaker, which produces all its cars in Maranello, northern Italy, was valued at €56bn (£48bn) before the launch.

The Impact of Jony Ive's Design

The Luce was developed in partnership with LoveFrom, the studio founded by Ive after his long career at Apple, during which he led the design of products including the iPhone, MacBook and Apple Watch.

Others said they believed it diverged too far from the blueprint that has made Ferrari one of the most profitable carmakers in the world. The Luce looks like a “mix between a Honda Accord EV and Tesla 3”, wrote Pierre-Olivier Essig, the head of research at AIR Capital, in a note for clients reported by Bloomberg.

Ferrari's Future Plans

Ferrari, founded in 1939, said the car's design was “simplified and rationalised in service of the driving experience”, and emphasised that was creating an “entirely new Ferrari”.

The company last year scaled back its ambitions to shift from petrol to electric. It is aiming to have a 2030 lineup of 40% internal combustion engine models, 40% hybrids and 20% fully-electric.