Ferrari shares dropped 7% in Milan trading after unveiling the Luce, its first fully electric vehicle priced at €550,000. The four-door, five-seat liftback drew widespread online mockery comparing it to a Honda Accord and an Apple Store minivan, wiping roughly £3 billion from Ferrari's market cap. Despite impressive specs — 1,036 hp, 0–60 under 2.5 seconds, 530 km range, and 60 new patents — investors and the public questioned whether the design departs too radically from Ferrari's brand identity. The car was co-designed with Jony Ive's LoveFrom studio and features a minimalist, screen-free interior. The reveal comes as other luxury EV makers like Lamborghini retreat from the segment, raising broader questions about Ferrari's electric strategy.
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