Ferrari N.V. (NYSE:RACE) is among the Best EV Stocks.
On June 12, Bloomberg reported that Ferrari N.V. (NYSE:RACE) shares dropped nearly 8% after the debut of its first electric vehicle, the Luce. It erased more than $4 billion in market capitalization in hours. Investors reacted alongside owners and fans, with reactions to the design described as a “gut punch” and “betrayal,” and criticized its departure from Ferrari’s traditional combustion identity.
Bloomberg reported the Luce was designed with Jony Ive’s LoveFrom. It was a shift that produced a more minimal form and intensified backlash from collectors who said it lacked the brand’s signature curves and emotional appeal. A Ferrari N.V. (NYSE:RACE)’s spokesperson declined to comment.
The Luce helps Ferrari meet emissions regulations and could draw new customers, but Bloomberg reported it also risks diluting the brand’s core assets and alienating its loyal ownership base. Bloomberg noted that Ferrari’s order books extend into 2027. It shows demand resilience even as sentiment around the launch turned sharply negative.
Pixabay/Public Domain
Ferrari N.V. (NYSE:RACE) is a holding company that designs, engineers, produces, and sells luxury sports cars. The company’s vehicles include the F12 Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, LaFerrari Hybrid, LaFerrari, and FF four-wheel drive.
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