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Ferrari has officially entered the electric vehicle era, but the launch of its first fully electric car, the Luce, has sparked sharp reactions from investors, auto analysts, and longtime Ferrari enthusiasts.

The Italian luxury carmaker unveiled the Ferrari Luce this week in a highly anticipated global launch. While the company positioned the vehicle as a bold step toward the future, the response from markets suggests not everyone is convinced.

Ferrari’s shares dropped nearly 8% shortly after the reveal before recovering slightly later in the day. The decline reflects growing concerns over whether the Luce truly represents the Ferrari DNA that made the brand iconic for generations.

A Radical Shift From Ferrari Tradition

The Ferrari Luce marks one of the biggest design departures in the company’s history. Unlike Ferrari’s traditional two-seater supercars built around aggressive styling and roaring combustion engines, the Luce arrives as a five-seater luxury EV with four doors and a more minimalistic appearance.

Priced at approximately $640,000, the vehicle offers a driving range of around 530 kilometers and can accelerate from 0 to 100 km/h in just 2.5 seconds. Ferrari claims the car maintains performance standards expected from the brand, with a top speed exceeding 310 km/h.

However, performance numbers alone have not silenced criticism.

Several analysts described the design as too restrained for a Ferrari. Some even argued that the Luce resembles a premium electric sedan rather than an emotional, high-performance Italian supercar. Social media reactions were equally divided, with many users questioning whether the company had sacrificed identity in pursuit of electrification.

Jony Ive’s Influence Becomes a Talking Point

A major reason the Luce has attracted attention is its collaboration with LoveFrom, the design studio founded by former Apple design chief Jony Ive.

Ive, known globally for shaping Apple’s minimalist design philosophy, worked closely with Ferrari on the project. Ferrari described the design language as “simplified and rationalised,” focused entirely on the driving experience.

But that same minimalist approach appears to have unsettled traditional Ferrari buyers who associate the brand with drama, aggression, and unmistakable road presence.

Industry experts believe Ferrari now faces a difficult balancing act: attracting a younger, sustainability-focused luxury audience without alienating the loyal customer base that built the brand’s exclusivity.

Ferrari’s EV Strategy Faces New Questions

The Luce also arrives at a time when Ferrari is becoming more cautious about its electric ambitions.

The company recently revised its long-term product strategy, reducing the projected share of fully electric vehicles in its 2030 lineup. Ferrari now expects only 20% of its future portfolio to be fully electric, signaling that it still sees combustion and hybrid technology as central to its future.

Chief Executive Benedetto Vigna defended the project, calling the Luce an example of Ferrari’s willingness to embrace technological change while redefining luxury performance.

Still, the early market reaction shows that the transition from petrol-powered heritage to electric innovation may be more emotionally charged for Ferrari than for any other automaker.

For now, the Luce is more than just a new car. It has become a test of whether one of the world’s most iconic automotive brands can reinvent itself without losing the soul that made it legendary.