Ferrari bet its legacy on an EV designed by Jony Ive. The backlash wiped out $5 billion in a day.

Car Tech Tech Culture electric cars ferrari Ferrari bet its legacy on an EV designed by Jony Ive. The backlash wiped out $5 billion in a day. Ferrari wanted its EV to be provocative. Mission accomplished. By Skye Jacobs May 27, 2026, 10:47 57 comments Serving tech enthusiasts for over 25 years. TechSpot means tech analysis and advice you can trust. A hot potato: Ferrari's long-awaited move into fully electric vehicles landed with an immediate financial jolt. Shares in the company dropped about 8% after the debut of the Luce, wiping out more than $5 billion in market value and signaling investor unease with both the design and the broader strategy. The reaction didn't stop with investors.

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