Ferrari shares slide 6% after luxury carmaker unveils first EV

The leading car manufacturer and market leader in design and luxury, Ferrari has finally stepped into electric car manufacturing.

Ferrari has rolled out its first electric car amid its shares dropping 6% on Tuesday, May 26, 2026.

The EV has been named Luce, which translates as “light,” at an event in Rome, the company revealed the reason behind selecting this name as the one that “evokes clarity and direction.”

With the launch of Luce, the Maranello, Italy-based car manufacturer has entered into the EV market, a clear shift from its signature Ferrari models.

Amid the launch, the company shares dropped to 6.3% on Tuesday morning, reducing some of its earlier deficits.

Ferrari shares traded on the Milan Stock Exchange have declined nearly 27% in the past year.

The company CEO Benedetto Vigna described the model as a “very, very important day” for the company, one that highlights the opening of a “new chapter” in its manufacturing history.

Luca is a first-ever five-seater car, and has the mileage capacity of 60 miles per hour in around 2.5 seconds with a maximum speed of around 192 miles per hour.

The Luce is completely manufactured in-house at the company headquarters, Maranello, with the design being tasked to LoveFrom, an agency founded by former Apple design chief Jony Ive.

The company expected to roll out its deliveries in the fourth quarter of the current fiscal year, with a price tag around 550,000 euros (approx. $640,000).