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Ferrari Shares Fall 6.1% After Unveiling $640,000 Luce Electric Car

Ferrari Shares Fall 6.1% After Unveiling $640,000 Luce Electric Car

Chief executive Benedetto Vigna said the new model was a serious technology project, while Ferrari said petrol and hybrid vehicles will remain part of its lineup.

Fact Check
The claim is strongly corroborated by major outlets. BBC ('Ferrari unveils first fully electric car') and CNBC ('The market has spoken') both confirm Ferrari unveiled the Luce EV at ~$640,000 on 2026-05-26 and that shares fell. WSJ and Yahoo Finance confirm the price and stock decline. CEO Benedetto Vigna's framing of the model as a serious technology project and Ferrari's continued petrol/hybrid commitment match the original claim. The specific 6.1% figure is reported in the lead source and consistent with descriptions of a 'sharp' drop in primary sources.
Summary

Ferrari shares dropped 6.1% in morning trading on the Milan exchange after the Italian luxury sports car maker unveiled the Luce, its first fully electric car priced at $640,000. The Rome launch highlighted a major strategic shift for the Maranello, Italy-based company, which had previously said it would not build a fully electric vehicle and would focus on petrol-powered hybrids. Chief executive Benedetto Vigna said the model took five years to develop and described it as a serious technology project. Ferrari said the car uses Ferrari-built electric motors on each wheel, with claimed 0-to-60 mph acceleration in 2.5 seconds, and that parts are built in-house to support long-term repairs and resale value. The unveiling triggered mixed public reaction, with criticism centered on the car’s nontraditional design. Ferrari design chief Flavio Manzoni said the styling is polarising and may gain wider acceptance over time. Vigna said the design reflects the requirements of new technology and added that Ferrari will continue offering petrol and hybrid models.

Terms & Concepts
  • Electric vehicle: A vehicle powered by electric motors and batteries instead of a conventional internal combustion engine.
  • Hybrid vehicle: A car that combines an internal combustion engine with electric power components to improve efficiency or performance.
  • In-house manufacturing: Producing key components internally rather than outsourcing, often to maintain quality control and service support.