Ferrari's First Electric Car Faces Criticism, Shares Drop 8%

Ferrari shares fell after the company launched its first fully electric car, the Luce, on Tuesday (26 May 2026). The Italian luxury sports car manufacturer from Maranello unveiled the Luce at an event in Rome. The name Luce means “light” in Italian, chosen to reflect the company’s clarity and new direction. The launch marks a significant moment for Ferrari, signifying a major shift from its traditional identity centred on internal combustion engines, distinctive engine sounds, and classic sports car design. Ferrari’s shares listed in the United States dropped 5.3%, while Milan-listed shares have plummeted over 32% in the past year. CEO Benedetto Vigna described the Luce launch as a “very, very important day” for the company, stating it ushers in a “new chapter” in its history. When asked if Ferrari could satisfy existing customers and attract new ones, Vigna said the company must respect the characteristics of new technology. “When you adopt new technology, you must always remember the word ‘respect’”, Vigna told CNBC. “Respect the technology, because when you have new technology, you need to ensure it is well represented in the design, so the design must be different,” he added. He is confident the Luce will remain appealing to existing customers while paving the way for new buyers.