Ferrari (RACE) EV Luce Faces 8% Stock Drop After Launch Backlash
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowFerrari (RACE) shares fell 8% in Milan and 5.3% in New York after the unveiling of its first electric vehicle, the Luce. Lamborghini CEO Stephan Winkelmann stated that canceling their own EV plans for a focus on plug-in hybrids was the right decision, citing weak demand for full-electric vehicles among their customer base. He noted that each brand must decide their own strategy in innovation. The negative reception of the Luce has drawn criticism from various figures, including former Ferrari executive Luca di Montezemolo and Italian Deputy Prime Minister Matteo Salvini.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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