Ferrari shares fall after launch of first EV as Jony Ive design proves divisive
Ferrari unveiled its first electric car, but the minimalist design split opinion and sent shares lower in Milan.
Intelligence analysis by GPT-5.4 Mini
Ferrari’s first EV, the Luce, arrived with Jony Ive-backed styling, a $640,000 starting price, and strong performance claims. Investors reacted cautiously as the design and the brand’s shift away from petrol power drew criticism.
Ferrari made its first electric car. It is called the Luce, and it was designed with help from Jony Ive’s studio.
Some people liked the new look, but others thought it looked too plain and too different from a classic Ferrari. That made the company’s shares fall.
It is like a famous violin maker suddenly building an electric guitar. It can still be special, but people want to know if it keeps the old magic.
Analysis
Ferrari’s EV debut
Ferrari has unveiled the Luce, its first fully electric model, developed with LoveFrom, the design studio founded by Jony Ive. The company says the car was designed to be simplified and rationalised around the driving experience, while still representing an entirely new Ferrari.
Market reaction
The launch did not land cleanly with investors. Ferrari shares fell as much as 8% in Milan before recovering some ground and ending about 6% lower in morning trading, suggesting the market was unsure whether the car will strengthen or dilute the brand’s appeal.
What the car is, and why it divides opinion
The Luce starts at $640,000 and is positioned as a very high-end, family-friendly Ferrari: it has five seats, four doors, a 329-mile range, four motors, and a claimed 0 to 100km/h time of 2.5 seconds. That makes it more practical than most Ferraris, but also more controversial. Critics argued the saloon-like shape departs too far from the company’s sportscar image, with one analyst describing it as resembling mainstream EV sedans and saying the new strategy felt confusing.
Ferrari is also adjusting its electrification targets. It now aims for a 2030 lineup that is 40% combustion engines, 40% hybrids, and 20% fully electric, scaling back an earlier plan that leaned much more heavily toward EVs. That shift suggests the company is trying to move carefully, preserving the profitability and identity that have made it one of the world’s most valuable carmakers.
The company still tried to keep some emotional appeal alive: Ferrari said the Luce includes a speaker-based sound meant to feel authentic by amplifying motor noise inside and outside the car.
Key points
- Ferrari unveiled the Luce, its first fully electric car, with design help from Jony Ive’s LoveFrom studio.
- Ferrari shares fell after the launch, dropping as much as 8% before trimming losses.
- The Luce starts at $640,000 and is a five-seat, four-door model with a 329-mile range and 2.5-second 0-100km/h claim.
- Analysts said the car’s saloon-like shape may sit uneasily with Ferrari’s sportscar heritage.
- Ferrari now plans a 2030 mix of 40% combustion, 40% hybrids, and 20% fully electric vehicles.
