TL;DRFerrari shares fell 7% after unveiling the Luce, its first electric car, priced at EUR 550,000. Online backlash over the five-seat hatchback design and broader luxury EV market uncertainty drove the sell-off.
Ferrari shares fell as much as 7 per cent in Milan trading on Monday, dropping to €290.55 and wiping roughly £3 billion from the company’s market cap. The sell-off came one day after the Italian carmaker unveiled the Luce, its first fully electric vehicle, at the Città dello Sport in Rome.
The Luce is a four-door, five-seat liftback priced from €550,000, roughly $640,000. It is the most expensive production electric car in the world, sitting at roughly three to four times the price of a Porsche Taycan Turbo S, Lucid Air Sapphire, or Mercedes-AMG EQS.
The hardware is not in question. Four electric motors, one per wheel, produce a combined 1,036 horsepower. Ferrari claims a 0–60 mph time under 2.5 seconds, a top speed above 310 kph, and a range of roughly 530 kilometres from a 122 kWh battery pack. An 800-volt architecture supports 350 kW fast charging, taking the battery from 10 to 80 per cent in around 18 minutes.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!The problem is the design. Within hours of the reveal, social media erupted with comparisons to a Honda Accord, a luxury toaster, and an Apple Store minivan. The Luce is Ferrari’s first five-seater and its first four-door hatchback, a radical departure from the low, aggressive silhouettes that define the brand. At over 2.2 tonnes, it is also the heaviest Ferrari ever made.
