As Ferrari confidently revealed its first all-electric vehicle publicly yesterday, investors demonstrated a far less confident attitude.

Ferrari stock suffered its biggest daily drop since October 2025, losing 7 per cent of its value. As Ferrari unveiled what could be the brand’s most pivotal new models in the brand’s 87-year history, investors were less effusive.

While the on-paper specs look right for the brand, including a 722kW four-motor powertrain and 2.5-second 0-100km/h acceleration, the Luce electric sedan marked a number of departures for the Italian supercar builder.

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Despite almost a decade of experience with electrified drivetrains, the Luce is Ferrari’s first all-electric vehicle. It’s also the first five-seat model from the brand, and the first designed by an external design consultancy since 2013.

Rather than using an experienced automotive firm, LoveFrom, a ‘creative collective’ better known for its work on consumer electronics and logo design, was tasked with the exterior and interior appearance.

Former Ferrari president and chairman, Luca di Montezemolo, voiced his concerns about the new model.

The former Ferrari head was first quoted in 2011 as saying, “You will never see a Ferrari electric because I don’t believe in electric cars, because I don’t think they represent an important step forward.”

In 2013, he reiterated that stance as the company prepared to launch its first hybrid vehicle, the LaFerrari, declaring, “We will never manufacture an electric car as long as I’m chairman.”

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When asked what he thought about the Luce by Italian media, di Montezemelo responded, “If I said what I think, I would do harm to Ferrari.”

After a moment’s pause, he continued, “Yes, we risk the destruction of a legend.”

“I just hope that the little horse comes off.” he said, referencing Ferrari’s prancing horse logo. “This is certainly a machine that the Chinese, at least, won’t copy from us. They won’t need to.”

Market analysts at Berenberg Bank cited investor concerns that demand for the new model would be low among Ferrari’s traditional customers, resulting in the stock drop.

Ferrari’s timing comes as major rivals like Lamborghini and Porsche retreat from future EV plans, reducing confidence in high-end electric vehicles. At the same time, Rolls-Royce claims its Spectre EV was its most popular vehicle in Europe, and the number-two vehicle in its global portfolio, suggesting buyer demand remains for high-end electric vehicles.