Ferrari has been promising its first electric car for years. When the Ferrari Luce EV finally arrived at an unveiling event in Rome this week, the reaction was This was not what the company expected.
According to CNBC, Ferrari’s Milan-listed shares fell nearly 7% the day after the revelations, shaving nearly £3 billion from the company’s market capitalization overnight. US-listed shares fell about 5%. The Luce is priced at €550,000 (about $640,000), making it the world’s most expensive production electric car. It has four electric motors, 1,035 horsepower, and a 0-60 time of 2.5 seconds. The 122 kWh battery supports 350kW fast charging and offers a range of approximately 330 miles.
So why the reaction?
Five-seat Ferrari with Apple interior
The Luce is a four-door, five-seat liftback. It is also the heaviest Ferrari ever made at over 2.2 tonnes. Jony Ive and Marc Newson’s design firm LoveFrom co-designed it with Ferrari, a partnership first announced earlier this year. Ive is the designer of the iMac, iPhone and iPod at Apple.
Ive’s effect visible on the entire car. The interior trades the touchscreen for physical dials and analog-style instruments. The three-spoke steering wheel is crafted from recycled aluminum. A key with an E Ink screen starts the car. Within hours of the reveal, social media was filled with comparisons to the Honda Accord and the “Apple Store Minivan”. Even former Ferrari president Luca Cordero di Montezemolo came out in protest, calling it “the destruction of a legend”.
Analysts at Berenberg Bank pointed to investors’ concerns that traditional Ferrari buyers would not want the car. Ferrari’s order book is already running through the end of 2027, so demand isn’t really a problem right now. As we covered in our loose specs breakdown, Ferrari argues that this car can only exist as an EV. The real question is whether loyal customers will follow a brand that doesn’t look like the one they know.
This is also the second big stock hit related to the Ferrari Luce EV news. In October 2025, Ferrari shares fell 15% after the company halved its 2030 EV ambitions, reducing them from 40% of the lineup to 20%. Lamborghini and Porsche have already backed out of their EV plans. Ferrari is going the other way. Even if it’s the right decision, at $640,000 per car, the margin for error is basically zero.
