Wall Street Isn't Loving Ferrari's First EV

Ferrari has unveiled its first electric car, and the brand's shares are falling.

In the US, shares have fallen 4.6 percent since trading started early Tuesday morning.

Ferrari’s stock on the New York Stock Exchange is down 30.2 percent for the year.

The future of Ferrari is here, and the five-passenger Luce EV appears quite controversial. Shares for the automaker fell Tuesday, the day after the Italian carmaker unveiled its first electric car.

The Luce is a massive departure from Ferrari’s current lineup, which farmed out the interior and exterior design to LoveFrom, the firm headed by former Apple Design Chief Sir Jony Ive. The new car’s radical design is not sitting well with shareholders, CNBC reports.