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Ferrari shares fell 8 percent after unveiling its first electric car, the Luce, a 640000 dollar five seat saloon designed by Jony Ive, sparking backlash from traditional fans
Ferrari unveiled its first-ever electric car, the Luce, priced at around Rs 6.13 crore.
Ferrari’s shares fell 8 per cent after the luxury carmaker unveiled its long-awaited first electric vehicle, the Luce, at a cost of $640,000 or Rs 6.13 crore.
Its shares dropped 8.37 per cent to 284.05 euro compared to the previous day close at 310 euro.
The new EV car from the Italian manufacturer was designed by the former Apple design chief, Jony Ive, who gave it a minimalist look, departing from the traditional style of Ferrari, one of the world’s most valuable sports car makers and a popular brand among Formula One racing fans.
The Luce’s saloon-like design brought a backlash from its fans, with some questioning whether it lived up to Ferrari’s sportscar heritage.
The Luce is Ferrari’s first-ever five-seater and only its second four-door offering, signaling a clear focus on ultra-rich families over traditional sportscar purists. The Italian luxury carmaker’s only other four-door vehicle is the Ferrari Purosangue SUV, introduced in 2022.
Founded in 1939, Ferrari said the Luce features a design that has been “simplified and refined” to enhance the driving experience, while describing the model as an “entirely new Ferrari.”
According to a Guardian report, Ferrari aims to have in its portfolio by 2030: 40% internal combustion engine models, 40% hybrids, and 20% full-electric models. Earlier, it planned to convert 40% of its all models to electric by 2030 with the reduction of petrol models to 20 per cent.
The Luce was designed by LoveFrom, the studio founded by Ive, who also designed the iPhone, MacBook and Apple Watch.
Benedetto Vigna, the Ferrari chief executive, said: “We are convinced that a company demonstrates its leadership when it has the courage to dare and to take on the challenge of new technologies. Ferrari Luce was born precisely from this challenge, offering our unprecedented vision of electrification.”
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