Ferrari NV's stock soared 5.05% during intraday trading on Thursday, marking a significant upward movement for the luxury automaker.

The surge follows confirmation from Ferrari CEO Benedetto Vigna that the company has received formal orders from both new and existing customers for its first pure electric vehicle, the Luce. All 1,600 initial prospective clients committed to purchasing after viewing the actual vehicle, with the company already receiving partial payments for the model, which is priced at 550,000 euros.

Market confidence was further bolstered by analysis from UBS, which noted that Ferrari's EV offering is more likely an extension of its existing product line rather than a fundamental shift in brand positioning. This assessment has helped ease earlier concerns about potential dilution of the brand's exclusivity, supporting the stock's recovery trajectory.