Ferrari shares fall after luxury carmaker launches first full EV
CNBC • • general
Key Points:
- Ferrari launched its first fully electric vehicle, the Luce, marking a significant shift for the luxury carmaker and symbolizing a new chapter in its history, according to CEO Benedetto Vigna.
- The Luce, unveiled in Rome, features a design that departs from traditional Ferrari aesthetics, aiming to respect both the new technology and the brand's design heritage.
- Despite the launch, Ferrari's shares fell sharply by 6.1% on Tuesday morning and have declined nearly 27% over the past year, reflecting investor caution.
- The move contrasts with other luxury car brands like Porsche and Lamborghini, which have scaled back EV plans due to weak demand.
- Ferrari aims to attract both its existing clientele and new customers with the Luce, emphasizing respect for the diverse needs and wishes of its customer base.