Critics give Ferrari Luce EV a cool response, shares fall

Ferrari Luce marks the brand’s first fully electric offering in a four-door, five-seat package, signaling a bold shift for the luxury maker. Priced at €550,000 (about $640,000) and due for deliveries in the fourth quarter, it was developed with Jony Ive and the LoveFrom team. Ferrari shares fell nearly 8% after the reveal, with Milan listing down about 7.8% and New York trading down roughly 4.6%, signaling cautious reception. Analysts attributed the reaction to concerns about electrification and brand identity, as investors weigh the impact on Ferrari’s exclusivity and pricing power and investor expectations. Unveiled late Monday, Luce targets China and technology-driven buyers while aiming to broaden Ferrari’s appeal without eroding its heritage. The critics questioned the styling, and even former chair Luca Cordero di Montezemolo called the model a betrayal of Ferrari’s history. Ferrari had previously postponed a second electric model to at least 2028, underscoring the tension between electrification and the brand’s traditional core. Industry observers note Luce’s arrival highlights broader industry shifts toward luxury EVs and tests Ferrari’s ability to maintain exclusivity amid change.