Ferrari shares fall after launch of first EV as Jony Ive design proves divisive

Some analysts question whether design of Luce, starting at $640,000, lives up to sportscar brand’s heritage

Ferrari’s share price has dropped after it revealed a long-awaited first electric vehicle, with a minimalist look created by former Apple design chief Jony Ive that departs from the Italian manufacturer’s petrol sportscars.

The Luce, starting at $640,000 (£545,000), has a range of 329 miles (530km) thanks to its battery capacity of 122 kilowatt hours, the company said, with four motors that can accelerate from 0 to 100km/h in 2.5 seconds, with a top speed of more than 310km/h (193mph).