Ferrari’s First EV Triggers Stock Drop and Style Backlash
CNBC reported Friday that Ferrari’s Ferrari Luce EV debut in Rome produced an 8% share price decline and a torrent of public criticism, even as company executives defended the radical new design.
A Lavish Unveiling in Rome
The launch unfolded at the Vela di Calatrava sports complex outside Rome on a Monday evening. Guests arrived in blacked-out vans with a police escort. Security staff covered phone and laptop cameras with stickers to prevent any unauthorized images leaking ahead of the official reveal.
After roughly an hour of buildup, five versions of the Luce drove onto the stage to flashing lights and loud music. The car, whose name means “light” in Italian, seats five people for the first time in Ferrari’s history. It carries a price tag of approximately 550,000 euros, or around $640,000.
Design Meant to Disrupt
Ferrari CEO Benedetto Vigna told CNBC the unconventional look was deliberate. New technology, he argued, demands a design that properly reflects it. The Luce’s minimalist interior was developed in collaboration with former Apple design chief Sir Jony Ive, who has not worked with an automaker of this stature since leaving Apple.
RBC analyst Tom Narayan noted that Ferrari’s decision to bring in an outside designer for the first time since 2014 was specifically aimed at producing something genuinely disruptive. Many observers, however, felt the iPhone-like aesthetic clashed with the brand’s established identity.
A Backlash With Deep Roots
Ferrari shares fell 8% the day after the reveal. Social media filled with memes mocking the design, including AI-generated clips depicting founder Enzo Ferrari in distress.
The controversy reached political levels in Italy. Transport Minister Matteo Salvini posted on X that the car “looks like anything but” a Ferrari, questioning whether the price and styling represented genuine innovation. Former Ferrari Chairman Luca Cordero di Montezemolo was more pointed still, warning on Italian television that the model risked “destroying a myth.”
What Comes Next
The company’s stock performance and the volume of cultural criticism underscore how much rides on actual customer demand once deliveries begin. Ferrari has staked considerable brand equity on the Luce.
Vigna and Ferrari Chair John Elkann, who opened the Rome presentation, will need to convert spectacle into sales. Promotional footage featuring Formula One drivers Lewis Hamilton and Charles Leclerc hints at the marketing muscle Ferrari intends to deploy.
Whether the Luce’s bold departure resonates with buyers at that price point remains the defining question for the brand’s electric future.
Read Next: Ferrari Luce EV Divides Opinion After $640K Price Tag Confirmed
