Ferrari stock falls after unveiling ₹6.13cr Luce electric sedan
Business
Ferrari's stock slid 8.37% to €284.05 (from €310) after it unveiled the Luce, its first electric car.
The Luce stands out with a $640,000 (₹6.13 crore) price tag and a minimalist, sedan-style design by ex-Apple design chief Jony Ive, quite a shift from Ferrari's classic sports cars.
Fans are divided over the look, with some missing the old-school Ferrari vibe.
Luce aimed at ultra wealthy families
The Luce is Ferrari's first five-seater and is aimed more at ultra-wealthy families than traditional speed enthusiasts.
CEO Benedetto Vigna described it as Ferrari's "entirely new Ferrari," reflecting their push for innovation and electric models.
By 2030, Ferrari wants its lineup to be 40% gas-powered, 40% hybrids, and 20% fully electric — so expect more change ahead.