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Ferrari loses billions as electric launch sparks backlash
May 27 Ferrari has been hit by a wave of criticism – and a major stock market selloff – following the launch of its controversial new electric luxury model, the Ferrari Luce. The all-electric four-door Ferrari, designed with input from former Apple designer Jony Ive, was unveiled by the marque's Formula 1 stars Lewis Hamilton and Charles Leclerc. But the reaction online and in financial markets was brutal. Ferrari shares reportedly dropped between 6 and 8 percent following the reveal, wiping roughly 4-5 billion euros from the company's market value within hours. The Luce carries a starting price of 550,000 euros in Italy, making it Ferrari's most expensive non-supercar...
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