Ferrari drops first electric model called Luce designed by iPhone guy. Ferrari shares fall 7%

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Ferrari shares fall 7% after luxury carmaker launches first fully electric vehicle

  • Shares of Ferrari fell sharply on Tuesday after the company unveiled its new Luce model, its first fully electric car.
  • CEO Benedetto Vigna told CNBC that the new car, which translates as “light,” would be welcomed by both existing customers and new clientele.
  • The launch comes even as other luxury car manufacturers have scaled back on plans to introduce their own EVs due to weak demand.

 

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