Ferrari shares plunged 5% Tuesday as car fanatics called the brand’s new $640,000 electric vehicle a “monstrosity” – comparing the design to much-cheaper rides and bashing the brand for using tech to replicate the iconic engine growl.

Ferrari has revealed its first electric car, called the Luce. A 192 mph four-door, five-seater with 1,000 horsepower, the Luce isn't for typical Ferrari buyers.

The iconic car company Ferrari has unveiled the Luce, its first all-electric vehicle, but the reported starting price is about $640,000.

Launched in Rome, the Ferrari Luce represents a radical departure for the brand known for its roaring combustion engines.

Jony Ive, former Apple executive, is credited with designing the iMac's famous translucent case and the Apple Watch.