Shares of Ferrari fell more than six percent on Tuesday after the luxury automaker introduced the Luce, its first fully electric vehicle, signaling a historic shift in the company’s direction and design approach.
The Maranello-based carmaker revealed the new model during an event in Rome, explaining that the name “Luce,” meaning “light,” reflects clarity and forward movement.
The launch comes as several luxury automotive brands, including Porsche and Lamborghini, scale back or reassess their electric vehicle strategies due to slowing global demand for EVs.
Following the announcement, Ferrari’s Milan-listed shares dropped sharply in early trading, falling as much as 6.1 percent before recovering slightly. The company’s stock has lost nearly 27 percent of its value over the past year.
Speaking after the unveiling, Ferrari Chief Executive Officer Benedetto Vigna described the debut of the Luce as a defining moment for the company, calling it the beginning of “a new chapter” in Ferrari’s history.
Vigna emphasized that while the company is embracing new technology, it remains committed to preserving Ferrari’s identity and heritage. He said innovation must be approached with respect, ensuring that new technology is properly reflected in the vehicle’s design.
He also noted that Ferrari remains attentive to the preferences of its loyal customers while hoping the Luce will attract a new generation of buyers.
The Luce represents one of Ferrari’s most ambitious steps yet as the iconic Italian brand seeks to adapt to the global transition toward electric mobility without losing the exclusivity and performance legacy that define the marque.
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