Ferrari has entered a defining new era with the unveiling of its first fully electric vehicle. However, the brand's debut EV, the Luce, intended to modernise the iconic Italian marque, has sparked more controversy among fans and investors than it has delivered on the promise of a smooth, transformative transition.
The new model,developed with input from former Apple design chief Jony Ive, marks Ferrari's most radical departure yet from its traditional petrol-powered identity. But instead of universal praise, the launch was met with sharp online criticism, with purists arguing that the design and direction dilute the brand's heritage.
According to CNBC and other news outlets, Ferrari shares fell sharply following the reveal, wiping billions from its market value as investor sentiment turned negative almost immediately after launch.
Market reaction to Ferrari's Luce launch was immediate: shares plunged nearly 8% in Milan trading before closing down about 6%, erasing billions in market capitalisation in a single day.
Analysts attributed the decline not only to the car itself but to broader concerns about whether Ferrari risks damaging its ultra-premium positioning by shifting into a fully electric, family-oriented four-door format.
One report said that investor nerves were amplified by fears that the Luce could dilute Ferrari's exclusivity, particularly as the model introduces a five-seat layout and a design language closer to luxury EV saloons than traditional supercars.
While Ferrari insists the Luce is a long-term strategic evolution rather than a departure from performance DNA, the immediate market reaction suggests investors are not yet convinced.
Beyond the financial impact, the strongest reaction came from Ferrari enthusiasts, many of whom took to social media to express disappointment over the brand's direction.
Critics labelled the design a break from Ferrari's 'soul', with some describing it as overly modern, softened, and influenced by consumer tech aesthetics rather than motorsport heritage.
In online forums, the car was widely compared unfavourably to more conventional EV competitors, with purists questioning whether it still feels like a Ferrari at all.
Source: International Business Times UK
