VERIFIEDBy Xavier Rivera· ·2 min read
Ferrari Stock Plunges 8% After Luce Electric Sedan Unveil
Ferrari's stock fell as much as 8% after the unveiling of its first electric car, the Luce, with a former boss calling it the destruction of a myth. The €550,000 sedan's Jony Ive-designed styling drew scathing reviews from investors and fans despite its strong technical specifications.
Source:Frandroid
TL;DRAI · 60 sec read
Ferrari unveiled the Luce, its first 100% electric car, triggering an immediate negative reaction from the market. The company's stock lost as much as 8% in the aftermath, falling 6.5% for the session after touching -7.8%. This marked its worst day since October. In market value, roughly €3.7 billion evaporated in a few hours. Over the past year, the shares have lost more than 30%.
The Luce is a four-door, five-seat electric sedan with 1,035 hp distributed across four motors. It accelerates from 0-100 km/h in 2.5 seconds, offers 530 km of announced range and a top speed of 310 km/h. The starting price is €550,000 in Italy, with deliveries scheduled for the end of 2026. At that price point, the verdict of investors and tifosi is scathing.
The Luce is a four-door, five-seat electric sedan with 1,035 hp distributed across four motors. It accelerates from 0-100 km/h in 2.5 seconds, offers 530 km of announced range and a top speed of 310 km/h. The starting price is €550,000 in Italy, with deliveries scheduled for the end of 2026. At that price point, the verdict of investors and tifosi is scathing.
POST FROM @GazzettaFerrari· tweet embedded in the source article quoting former Ferrari chairman Luca di Montezemolo on the Luce
https://x.com/GazzettaFerrari/status/2059278602399543309
The official unveiling took place in Rome on Monday evening, with Leclerc and Hamilton on stage. The Pope came to inspect the car the next day. Ferrari's CEO delivered lines about “innovation that is not democratic.” Despite the high-profile event, the Milan stock exchange delivered its verdict the following morning: sell.
A former Ferrari boss described the launch as “the destruction of a myth.” The real issue is not the technical specifications but the styling. Ferrari entrusted the exterior and interior design to LoveFrom, the studio of Jony Ive, ex-Apple, and Marc Newson. The result is a glazed bubble resting on an aluminum shell, with smooth surfaces, zero aggressive edges and physical buttons everywhere in the cabin.
Many see the Luce as evoking an Apple Car more than a Ferrari. Some compare it to a cross between an electric Honda Accord and a Tesla Model 3. This is not exactly what one expects at €550,000. When people are asked to pay the price of a house for a logo, they want to see the logo.
On the numbers, the unease continues. The 0-100 km/h in 2.5 seconds trails the Mercedes-AMG GT four-door, which does 2.4 seconds. Charging is capped at 350-360 kW, which a Porsche Taycan, three times cheaper, surpasses. The car weighs 2.2 tonnes, heavier than any combustion Ferrari currently in production. Ferrari highlights 60 new patents, an 800 V platform, a 48 V active suspension without anti-roll bars, and a drag coefficient of 0.254, the lowest in its history.
A former Ferrari boss described the launch as “the destruction of a myth.” The real issue is not the technical specifications but the styling. Ferrari entrusted the exterior and interior design to LoveFrom, the studio of Jony Ive, ex-Apple, and Marc Newson. The result is a glazed bubble resting on an aluminum shell, with smooth surfaces, zero aggressive edges and physical buttons everywhere in the cabin.
Many see the Luce as evoking an Apple Car more than a Ferrari. Some compare it to a cross between an electric Honda Accord and a Tesla Model 3. This is not exactly what one expects at €550,000. When people are asked to pay the price of a house for a logo, they want to see the logo.
On the numbers, the unease continues. The 0-100 km/h in 2.5 seconds trails the Mercedes-AMG GT four-door, which does 2.4 seconds. Charging is capped at 350-360 kW, which a Porsche Taycan, three times cheaper, surpasses. The car weighs 2.2 tonnes, heavier than any combustion Ferrari currently in production. Ferrari highlights 60 new patents, an 800 V platform, a 48 V active suspension without anti-roll bars, and a drag coefficient of 0.254, the lowest in its history.
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