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U.S. car manufacturers have learned a valuable lesson about electric vehicles over the past couple of years: American consumers don't like expensive EVs. That's why Ford is still pushing hard for EVs despite the $19.5 billion in losses it was recently forced to write down in its electric vehicle ...
Ferrari (NYSE:RACE) shares dropped nearly 8% after the unveiling of the company's first fully electric vehicle, the 550,000 Luce, drew a wave of criticism from analysts and social media influencers. The four-door, five-seat EV marks a major shift for Ferrari, with the company moving away from the design language associated with Flavio Manzoni and bringing in former Apple design chief Jony Ive to help shape the vehicle. The market reaction was immediate, with Ferrari shares falling as much as 7.8% in early Milan trading before sitting 6.4% lower at 1:37 p.m., marking the steepest decline since October and putting fresh investor attention on the risks behind Ferrari's EV transition.
Investors are unimpressed with the luxury automaker’s gamble.
Ferrari Takes the Biggest Leap Yet With Its First Electric Car
Ferrari (NYSE:RACE) shares fell 4.6% on Tuesday after the Italian automaker unveiled its first fully electric vehicle, the Luce, drawing criticism over its design and questions about the model's departure from the brand's identity. The four-door Luce, whose name is Italian for "light," was...
Ferrari has run into a wall of derision over the launch of its first electric car, which critics branded a lookalike of Nissan’s Leaf that sells for almost 15 times less.
Ferrari (RACE) showcased its new Luce EV in Rome this week, the luxury car designer's first fully electric vehicle, with a price tag of $640,000. The stock has edged lower in Tuesday trading in response to this grand unveiling. Yahoo Finance Senior Autos Reporter Pras Subramanian gauges the investor reaction to Ferrari's new vehicle.
Ferrari (RACE) launched its $640,000 electric vehicle (EV) Luce. Yahoo Finance Senior Autos Reporter Pras Subramanian chats with Yahoo Finance's Julie Hyman and Myles Udland about the vehicle and the public reaction.
Ferrari is going electric while others are shying away from the space, and investors don’t look happy about it—especially when the design of the car in question doesn’t reach the standards buyers expect from the luxury automaker. It’s named the Luce, after the Italian word for light. Ferrari’s U.S.-listed shares dropped 4.4% to $332.95 in early trading on Tuesday, while the and were up 0.7% and 0.3%, respectively.
Ferrari shares fell Tuesday after the luxury carmaker announced its first fully electric sports car.
Solana recolored Ferrari's new Luce EV in its brand colors and posted 'Fixed it.' as RACE stock fell 6% after the Rome unveil.
Ferrari's long-awaited EV launch sparked debate over brand identity and future demand.
Ferrari is going electric, and that’s a worry for Wall Street. The EV is named the Luce, after the Italian word for light. Former Apple chief design officer Jony Ive helped create the car, which Ferrari said would sell for a starting price of 550,000 euros ($640,000).
Italian for "light," Luce is Ferrari's foray into electric vehicles. The market, however, isn't willing to let go of the identity and cultural symbol Ferrari stands for.
The Luce EV arrived in Rome on Monday night, making a big statement as Ferrari's first fully-electric car. Featuring a design vastly different from the Italian automaker's current offerings, the company argues change was needed for the first "electric Ferrari," with a new market, new clients in focus, and price touching $640,000.
The Luce EV arrived in Rome on Monday night, making a big statement as Ferrari's first fully-electric car. Featuring a design vastly different from the Italian automaker's current offerings, the company argues change was needed for the first "electric Ferrari," with a new market, new clients in focus, and price touching $640,000.
The Luce EV arrived in Rome on Monday night, making a big statement as Ferrari's first fully-electric car. Featuring a design vastly different from the Italian automaker's current offerings, the company argues change was needed for the first "electric Ferrari," with a new market, new clients in focus, and price touching $640,000.
The €550,000 five-seater drew comparisons to mass-market EVs on social media, with analysts citing design concerns and brand dilution fears
<body><p>STORY: From Ferrari's electric bet to Samsung's major union deal, this is Tech Weekly.</p><p>:: Tech Weekly</p><p>Ferrari presented its first fully electric car.</p><p>The Luce has a range of over 300 miles and features four electric motors which help it reach a top speed of around 200mph.</p><p>It marks a high-stakes shift as the sports car maker gambles new consumers will shift to high-tech luxury EVs.</p><p>The Luce is aimed at families with deep pockets with a price tag of $640,000.</p><p>Nvidia CEO Jensen Huang signaled he sees major long-term opportunities for the firm in China.</p><p>That's despite tensions over a tech race between Washington and Beijing.</p><p>Huang spoke to reporters in Taipei, ahead of a trade show.</p><p>He was asked whether China was part of a $200-billion market forecast he mentioned during a recent Nvidia earnings call.</p><p>"I would think so. $200 billion is not today, it’s someday. And it includes all the data centers, CPUs. This is a new market for us."</p><p>Lenovo reported a better-than-expected 27% jump in quarterly revenue</p><p>The tech firm's tablet and smartphone division saw revenue rise by close to a quarter - it's highest growth rate in five years.</p><p>Lenovo said overall revenue for the period to the end of March jumped $21.6 billion - above analyst estimates.</p><p>Investors liked what they heard and shares soared 15% soon after the update.</p><p>Texas sued WhatsApp and its parent firm Meta.</p><p>The state said the tech firm misled consumers over the messaging app’s encryption and privacy standards.</p><p>The lawsuit says users are given false assurance that their messages are encrypted.</p><p>A Meta spokesman called the allegations “false”, and said WhatsApp can't access people’s encrypted messages.</p><p>Samsung shares surged after it reached a deal with its South Korean union to avoid an 18-day strike.</p><p>48,000 workers could have taken part in the proposed industrial action.</p><p>One union source said a memory chip worker with a base salary of about $53,000 is expected to receive a bonus of around $416,000.</p><p>There was relief in Seoul at the deal as Samsung makes up for about a quarter of the country's exports.</p><p>Although the Samsung Electronics Co Union, which has about 13,000 members, took legal action to stop the vote on a pay deal - which is expected to be concluded by Wednesday.</p><p>It said it took legal action after being told it had no right to join the vote. </p></body>
Dell Technologies rose 4.2% in the run-up to the PC and server maker’s earnings on Thursday. Satellite company EchoStar which Wall Street sees as an easy way to get in on the looming SpaceX initial public offering, gained 4.6%.
Find insight on MISC, HD Hyundai Heavy Industries, SATS and more in the latest Market Talks covering Auto and Transport.
Ferrari is going electric, and that’s a worry for Wall Street. Former Apple chief design officer Jony Ive helped create the car, which Ferrari said would sell for a starting price of 550,000 euros ($640,000). Ferrari collector Luc Poirier told Barron’s last year that the technology felt “almost like a gimmick.”
↘️ Ferrari (IT:RACE), (RACE): Europe’s most valuable automaker unveiled its first-ever electric vehicle Sunday, priced at $640,000 and designed in partnership with Apple alumnus Jony Ive. The company’s Milan-listed shares slumped.
Europe’s most valuable automaker took the wraps off its first-ever model without an internal combustion engine Sunday. Designed in partnership with celebrated Apple alumnus Jony Ive, the Ferrari Luce is big on glass, light and space.
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Ferrari has unveiled its first fully electric car, with a design from former top Apple designer Sir Jony Ive that it describes as “polarising...
Ferrari N.V. (NYSE:RACE) unveiled its first fully electric car Monday, presenting the four-door Luce, designed in collaboration with former Apple Inc. (NASDAQ:AAPL) design chief Jony Ive and his collective LoveFrom, as a high-stakes bet that wealthy buyers will embrace a battery-powered Ferrari even as rivals such as Volkswagen AG’s (OTC:VWAGY) Porsche and Lamborghini slow some EV plans because of softer demand. Ferrari Bets On Electric Luxury The Luce, Italian for "light," is Ferrari's first fi
<body><p>STORY: :: Ferrari</p><p>Ferrari presented its first fully electric car on Monday, marking a high-stakes shift by the luxury sports car maker.</p><p>Dubbed the Luce, it has a range of over 300 miles and features four electric motors, which help deliver more than 1,000 horsepower and a top speed close to 200 miles per hour. </p><p>Priced at $640,000, Ferrari aims to appeal to families with deep pockets, offering them comfortable seats, high-end tech and a big trunk. </p><p>The four-door Luce, Italian for 'light', is Ferrari's first five-seater and was developed with the help of former Apple design chief Jony Ive and his collective LoveFrom.</p><p>The Luce marks a gamble that a generation steeped in technology and AI, and less attached to the brand's trademark 12- and 8-cylinder engine legacy, will shift to high-tech luxury EVs.</p><p>The move comes as competitors including Porsche and Lamborghini scale back their EV ambitions, citing weak demand.</p><p>Ferrari also hopes the Luce will help it expand in markets like China, where EVs are already widespread and big petrol cars are heavily taxed.</p></body>
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