Ferrari Shares Decline Post
Ferrari's shares fell after the launch of its first EV, the Luce, due to investor concerns over its design and market positioning.
Lauren Collins ·
Ferrari Shares Decline Post-EV Launch
Ferrari's share price decreased by up to 8% in Milan on Tuesday, June 18, following the unveiling of its first electric vehicle (EV), the Luce. The decline, which later stabilized at a 6% reduction, occurred after the luxury automaker introduced the Luce, featuring a minimalist design by former Apple design chief Jony Ive, which diverged from Ferrari's traditional sports car aesthetic.
The Luce, priced from $640,000, offers a 329-mile (530 km) range from its 122 kWh battery, accelerates from 0 to 100 km/h in 2.5 seconds, and achieves a top speed exceeding 310 km/h (193 mph). This model marks Ferrari's first five-seater and second four-door vehicle, indicating a strategic shift towards a broader market segment, potentially targeting affluent families rather than exclusively sports car enthusiasts. The design, described by Ferrari as "simplified and rationalised," has generated mixed reactions among analysts and investors.
The market reaction reflects investor uncertainty regarding the Luce's reception and its alignment with Ferrari's brand heritage. The company, valued at €56 billion before the launch, aims for a 2030 product lineup comprising 40% internal combustion engine models, 40% hybrids, and 20% fully electric vehicles, a revised target from its earlier plan for 40% electric models by the same year.