Ferrari (RACE) Shares Plunge Nearly 8% Following Luce EV Debut

Key Takeaways

• Shares of Ferrari (RACE) tumbled by up to 7.8% during early Milan trading hours following the introduction of the Luce, marking the brand’s inaugural all-electric vehicle.
• With a price tag of €550,000 ($640,000), the Luce accommodates five passengers and generates more than 1,000 horsepower, accelerating from 0-100 kph in just 2.5 seconds.
• The vehicle’s styling, created in collaboration with Jony Ive’s LoveFrom design studio, prompted comparisons to mass-market EVs like the Honda Accord and Tesla Model 3, leaving some market watchers underwhelmed.
• Last year, Ferrari slashed its 2030 electric vehicle production goal by 50% to just 20% of total output, indicating a cautious approach to electrification.
• Representing Ferrari’s second-ever four-door configuration and first five-passenger model, the Luce employs four independent electric motors positioned at each wheel.

When Ferrari pulled back the curtain on its maiden fully electric automobile Sunday evening in Rome, financial markets responded with skepticism. Shares of RACE declined as much as 7.8% during the opening session in Milan after the brand revealed the Luce, a five-passenger grand touring vehicle carrying a €550,000 ($640,000) price point.

Ferrari N.V., RACE

The presentation took place at Rome’s Vela di Calatrava, an architecturally striking sail-inspired venue. Ferrari transported over 200 members of the press to attend the occasion and entertained 1,600 clients with elaborate gala events spanning two evenings. Customer orders commenced the following Monday.

The Luce generates power equivalent to slightly more than 1,000 horses and completes the sprint to 100 kph in 2.5 seconds — outpacing even Ferrari’s V12-equipped Purosangue SUV. Maximum velocity surpasses 310 kph, while a 122 kWh battery pack provides driving range exceeding 530 kilometres.

Tipping the scales at 2.26 tonnes, it stands as Ferrari’s heaviest creation to date. The model also represents just the second four-door configuration in the company’s storied history and debuts as the marque’s first five-passenger offering, enabled by an innovative electric architecture that eliminates the conventional front-mid engine and rear-mounted transmission arrangement.

The aesthetic direction came from Jony Ive and Marc Newson at LoveFrom, the creative consultancy established by the former Apple design leader. The outcome presents a refined, minimalist appearance — a significant shift from Ferrari’s characteristically aggressive styling language.

Polarizing Vision Splits Industry Observers

The vehicle incorporates four dedicated electric motors—one driving each wheel—alongside a battery system conceived and manufactured internally at Ferrari’s Maranello facility. Additionally, it features a 600-litre cargo area with sufficient capacity for two golf bag sets or three full-size luggage pieces.

Instead of artificially replicating traditional engine notes, Ferrari invested five years and accumulated 40,000 kilometres of development work crafting an authentic acoustic signature. A specialized sensor mounted on the rear axle detects and enhances the organic sound produced by the electric powertrains.

Ferrari’s Revised 2030 Electric Roadmap

Ferrari has progressively tempered its electrification objectives. During the previous year, the company reduced its 2030 target for purely electric models from 40% to 20% of total production, simultaneously reinforcing its commitment to traditional combustion and hybrid powertrains.

RACE shares have depreciated 27% across the trailing twelve months, pressured by apprehension surrounding worldwide luxury market conditions. The Luce introduction appears to have done little to restore investor confidence.

Ferrari indicated that the Luce’s premium positioning reinforces its dedication to maintaining exclusivity rather than pursuing volume growth. Manufacturing fewer than 14,000 vehicles annually, controlled scarcity remains fundamental to the company’s business model — even as it ventures into uncharted segments.

The post Ferrari (RACE) Shares Plunge Nearly 8% Following Luce EV Debut appeared first on Blockonomi.