Ferrari shares slump after it unveils first fully electric car
Ferrari has unveiled its first fully electric car, the Luce, which is priced at $640,000. The launch has received mixed reactions, leading to a significant drop in the company's shares. Despite the criticism, Ferrari plans to continue offering petrol and hybrid models alongside the new electric vehicle.
- ▪The Ferrari Luce is the company's first five-seater electric car, developed over five years.
- ▪Ferrari shares fell more than 8% on the Milan stock market following the car's unveiling.
- ▪Competitors like Lamborghini and Porsche have scaled back their electric vehicle plans due to low demand.
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Ferrari shares slump after it unveils first fully electric carJust nowShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterFerrariThe all-electric Ferrari Luce is expected to be available later this yearLuxury sports car maker Ferrari has unveiled its first fully electric car - the $640,000 (£474,320) Luce.The new model departs from the look of typical Ferraris as the Italian brand's first ever five-seater, created in collaboration with the LoveFrom agency founded by former Apple design chief Sir Jony Ive.Responses on social media to the launch ranged from describing it as "straight to the junkyard trash" to an "absolute masterclass in design".
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