From Newsgroup: rec.autos.tech
On 2026-05-28 20:48:29 +0000, Your Name said:
On 2026-05-26 06:38:06 +0000, Your Name said:
Jony Ive really is a talentless hack. First he destroyed Apple's user
interface (admittedly the new Liquid Glass is equally as attrocious)
and some of Apple devices, now he has designed the ugliest (inside and
outside) Ferrari ever seen ... and it's a ridiculous four-door,
five-seater, EV! What was the Ferrari management thinking?!
This monstrosity is going to sell about as well as a cat-poo burger
would at McDonalds. :-\
Ferrari Reveals $640,000 EV Co-Designed by Jony Ive
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Ferrari today unveiled the Luce, its first fully electric car,
designed with help from Apple's former design chief Jony Ive.
<snip>
<https://www.macrumors.com/2026/05/25/ferrari-luce-jony-ive-photos/>
Lamborghini Loving Decision To Kill Lanzador EV
Following Ferrari Luce Flop
------------------------------------------------
<snip>
In an interview, the CEO called Lambo's decision to end its EV
program "the right way to go" for the automaker, but he did add that
"every brand, every company has to decide for themselves." Lamborghini
was one of the countless automakers around the world that decided to
pull back on its EV strategy because of weak demand. From CNBC:
<https://www.jalopnik.com/2182848/lamborghini-loving-decision-kill-lanzador-ev-ferrari-luce-flop/>
Someone in upper management will (should!) get fired ... more likely
they'll get a massive "bonus", or if they do get fired, they'll still
receive a massive golden handshake.
Some places are reporting an even bigger plunge in the share price.
Ferrari's EV reveal slashes NZ$9 billion* off its value overnight
[* about US$5.35 billion]
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The reveal of Ferrari's first EV saw its value plummet overnight,
with share prices dropping by 8 percent.
Share prices had risen in anticipation the week prior, meaning the
company is back at roughly the same value.
The Luce is Ferrari's first all-electric vehicle, and features
styling by former Apple design chief Jony Ive.
Ferrari's share price took a sharp drop following the reveal of
its first all-electric model, the Luce, yesterday, wiping more
than NZ$9 billion off the carmakers value.
Shares in the company fell around 8 percent on the Milan stock
exchange, while U.S-listed shares fell just over 5 percent in the
face of criticism of the radical EV's departure from Ferrari norms.
Ferrari's first EV, the Luce, has proven to be somewhat
controversial, causing the company's value to drastically fluctuate.
The two main pain points are the unconventional design of the Luce,
as well as the belief that Ferrari producing an electric saloon
dilutes the brand that has long modelled itself around high-power
combustion engines and traditional sports car design.
However, while the drop is attributed to the reveal of the Luce,
the company's share price had risen significantly in the week ahead
of the launch in anticipation of its first electric vehicle,
climbing from re4283 to a high of re4309 in the previous five days.
While undeniably a Ferrari in terms of performance, the Luce's
unconventional design has been universally panned by fans of the
brand.
They then dropped back down to re4284 the morning after the Luce was
revealed, leaving the company technically in a better position that
it was before the week before the reveal, but not by much.
The more worrying trend for Ferrari is the fact that it took a far
bigger drop of 15 percent in October last year when it revealed
more conservative 2030 growth expectations than the market was
anticipating, while it is current down by more than 30 percent over
the course of the last 12 months.
The company has hoped the Luce would see a quick turnaround in its
fortunes, but the overwhelmingly negative response to the car has
dashed those dreams, in the short term at least. It's not all bad
news, however, as most analysts are still rating Ferrari as a good
investment due to the fact it is currently trading near historical
lows, yet has a large backlog of orders over the next few years.
The Luce represents a massive departure from traditional Ferrari's,
with the company opting to develop all the underlying technology
in-house, while outsourcing design to the LoveFrom design collective
led by former Apple chief designer Jony Ive.
The resulting car attracted a stream of criticism, not least from
former Ferrari CEO Luca di Montezemolo who, when asked about the
Luce said "If I said what I really think, I'd harm Ferrari. We're
risking the destruction of a myth, I'm very sorry about that. I hope
they at least remove the Prancing Horse from that car".
While the Luce's design has been controversial, its performance
specs are anything but, with the EV packing more than 720kW and
990Nm from four electric motors, with a 0 to 100 time of just
2.5 seconds.
<
https://www.drivencarguide.co.nz/news/ferraris-ev-reveal-slashes-9-billion-off-its-value-overnight/>
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