Ferrari drops as EV bet spooks investors

Ferrari NV

26/05/2026 08:27

** Milan-listed shares in Ferrari RACE.MI fall 6% after the luxury sports car maker presented Luce, its first fully electric car, late on Monday

** Investors did not like the design of the car, as "they didn't consider it a Ferrari", a Milan-based trader says

** The four-door EV, developed with the help of former Apple AAPL.O design chief Jony Ive, is priced at €550,000 ($640,000) with deliveries due to begin in Q4

** "It's a risk and a bit of a bet," Phil Dunne, managing director at consultancy Grant Thornton Stax, said before the presentation

** Ferrari said the Luce has a range of more than 500 km (311 miles) and that it hopes the car will give the group the opportunity to move further into markets such as China, where EVs are widespread

** Ferrari last year delayed its plans for a second electric model until at least 2028 due to weak demand

** Up to Monday's close, Ferrari shares were down 2.7%​ YTD

($1 = 0.8596 euros)

(Reporting by Philippe Leroy Beaulieu in Gdansk, Andrea Mandala' in Milan)

((Phlippe.leroybeauleiu))