The Design & Tech Option: Ferrari Teamed Up with Apple’s Ex-Design Chief for Its First EV—and Investors Are Absolutely Hating It

ROME, ITALY — Ferrari’s highly anticipated leap into the electric vehicle market met severe resistance from Wall Street and luxury automotive purists on Tuesday. Shares of the Maranello-based automaker fell sharply shortly after the company unveiled the "Ferrari Luce"—its first-ever fully electric model.

The unique five-seater, whose name translates to "Light," was revealed at the Vela di Calatrava in Rome. However, the market reaction was heavy. Ferrari’s Milan-listed shares dropped roughly 8%, while its U.S.-listed stock fell 4%, compounding a tough year that has seen the stock slide more than 32% over the past 12 months.

The sharp sell-off comes at a volatile time for the luxury auto sector. Competitors like Porsche and Lamborghini have notably scaled back their EV timelines due to cooling global demand.

Despite the market's cold shoulder, Ferrari CEO Benedetto Vigna defended the vehicle's bold new direction, calling it the beginning of "a new chapter" for the iconic brand.

"When you adopt a new technology, you must always keep one word in mind: respect," Vigna told CNBC. "Respect for the technology means ensuring it is properly represented in the design. Therefore, the design must be completely different."

The Luce boasts impressive engineering metrics, capable of accelerating from 0 to 60 mph in roughly 2.5 seconds with a top speed of 192 mph. It carries a premium price tag of €550,000 (approximately $640,000), with customer deliveries slated to begin in the fourth quarter of 2026. To maintain its manufacturing edge, Ferrari engineered all core components completely in-house, while handing the controversial aesthetic design to LoveFrom—the creative agency founded by former Apple design chief Jony Ive.

The Ferrari Luce at a Glance

• Price: €550,000 (~$640,000 USD)

• Performance: 0–60 mph in 2.5 seconds | Max Speed: 192 mph

• Design: Collaborated with Jony Ive's creative firm, LoveFrom

• Configuration: Ferrari's first-ever 5-seater model

Why Are Investors Panicking?

Market experts point to a dangerous combination of design backlash and heavy research and development overhead.

"Ultimately, many enthusiasts are disappointed that Ferrari is embracing the EV concept, believing it dilutes a supercar brand anchored in classic design and raw, internal-combustion power," noted Michael Field, chief equity strategist at Morningstar. Field added that investors are deeply concerned about the massive capital expenditures required to develop EV platforms, putting intense pressure on the automaker to recoup costs in a weak market.

Anthony Dick, an automotive analyst at Oddo BHF, described the stock's plunge as a historic rejection. "This is by far the sharpest market reaction we've ever seen for a car design—the market has spoken," Dick said, warning that the Luce represents the furthest deviation from Ferrari's core identity in company history, posing a real risk to its pristine brand equity if sales stall.

Addressing concerns regarding the loss of Ferrari's signature acoustic roar, Vigna insisted that the Luce would still deliver standard Ferrari driving mechanics. "Each engine has its own unique sound," Vigna said. "What matters most is the emotion delivered to the driver."

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