Ferrari has unveiled its first fully electric car, the Luce, in Rome — but the €550,000 five-seater's design drew widespread criticism online and sent the company's shares sliding nearly 8%.

Ferrari is launching its first all-electric car, the Luce. This move comes as other sports car makers hesitate on EVs. The Luce, priced over €500,000, aims to define luxury…

The Ferrari Luce debuts with four electric motors making over 1,000 horsepower, a radical design, and a gorgeous interior. It costs over $620,000 to start.

Ferrari has introduced its first electric vehicle, the Luce, starting at €550,000 in Italy