Ferrari stocks fall after EV reveal
Ferrari's stock fell by 6.3 percent following the announcement of its fully electric model, "Lotus," which reaches a top speed of 310 kilometers per hour and accommodates five passengers. This move positions the company among its competitors in the electric vehicle market. The company's stock has declined by nearly 27 percent over the past year. "Lotus" is the second four-door car produced by Ferrari, and the first with a five-seat design. This step comes amid a decline in demand for electric vehicles and the company's expectation that electric models will constitute 20 percent of its production by 2030.
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