Ferrari stock prices drop after luxury carmaker rolls out first fully electric vehicle

Shares of luxury car manufacturer Ferrari fell Tuesday following the luxury carmaker launching its first fully electric vehicle. 

The Luce, as it's been dubbed, was unveiled in Rome and follows Porsche and Lamborghini scaling back plans to launch their own EVs in the face of weak demand from customers, according to CNBC. 

U.S. shares of the company were down 4.58% on Tuesday morning, while the Milan-listed shares were down more than 6%. 

The Luce is priced at $640,000 USD, and can hit 60 mph in about 2.5 seconds. It has a maximum speed of 192 mph.