Ferrari wanted its EV to be provocative. Mission accomplished.
A hot potato: Ferrari's long-awaited move into fully electric vehicles landed with an immediate financial jolt. Shares in the company dropped about 8% after the debut of the Luce, wiping out more than $5 billion in market value and signaling investor unease with both the design and the broader strategy. The reaction didn't stop with investors. Within hours of the unveiling, criticism spread across social media, owner forums, and even into Italian politics.