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International Business Times UK
International Business Times UK
Business
David Unyime Nkanta

Ferrari Goes Electric—Then Loses Billions in Stocks as Fans Reject 'Disgrace' Supercar

The EV supports multiple driving modes through its E-Manettino system, ranging from efficient Range Mode to full-performance Launch Control output. (Credit: Official Ferrari Website)

Ferrari has entered a defining new era with the unveiling of its first fully electric vehicle. However, the brand's debut EV, the Luce, intended to modernise the iconic Italian marque, has sparked more controversy among fans and investors than it has delivered on the promise of a smooth, transformative transition.

The new model, developed with input from former Apple design chief Jony Ive, marks Ferrari's most radical departure yet from its traditional petrol-powered identity. But instead of universal praise, the launch was met with sharp online criticism, with purists arguing that the design and direction dilute the brand's heritage.

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