Ferrari Stock Declines as Automaker Bets on High-End EV Market With New “Luce” Model

Shares of Ferrari came under pressure Tuesday after the luxury automaker revealed its first all-electric supercar, marking one of the most significant transformations in the company’s history.

The vehicle, called the “Luce,” was developed alongside former Jony Ive and his design firm LoveFrom.

With a reported starting price near $640,000, Ferrari is positioning the model as a blend of elite performance, advanced technology and ultra-premium design aimed at affluent global buyers.

Still, the market response was mixed.

While the launch generated major attention across both the automotive and technology industries, investors appeared concerned about whether Ferrari’s traditional customer base will fully embrace an electric version of the brand’s iconic supercar experience.

Critics and analysts questioned whether removing the signature combustion-engine sound and mechanical character historically associated with Ferrari could weaken part of the emotional connection that has defined the company for decades.

The timing of the launch also adds complexity. The broader electric vehicle sector has recently faced slowing momentum, especially in the United States, where consumer demand growth has moderated amid elevated borrowing costs, increasing competition and concerns over pricing.

At the same time, several high-end automotive rivals have taken a more conservative approach toward electrification. Brands such as Porsche, Lamborghini and McLaren continue prioritizing hybrid performance platforms rather than launching fully electric flagship models.

Ferrari stated that the electric supercar produces approximately 1,000 horsepower, positioning it among the most powerful production vehicles ever released by the company. Deliveries are expected to begin in October.