Ferrari’s first electric car sells for $40m

Ferrari's inaugural production electric vehicle, the Luce, fetched a staggering $40 million (£29.5 million) at an RM Sotheby's auction in Monterey, California, despite receiving mixed reactions post-launch. The 2026 Ferrari Luce "Tailor Made" was auctioned off as part of the "Chassis 0" of the first production model of the Ferrari Luce programme.

Ferrari CEO emphasized that this sale presented an "unrepeatable opportunity" to acquire this exclusive piece of history. Proceeds from the auction will be donated to support educational initiatives via the Ferrari Foundation. The vehicle, customized to US specifications, is set to be returned to Maranello, Italy, and is slated for delivery to its undisclosed buyer in Q1 2027.

The Luce showcases a unique Madreperla Semi-Gloss exterior finish and an interior crafted through Ferrari’s Tailor Made programme, featuring Le Mans metallic leather in Perla. Equipped with a plaque due to its significance as the first production chassis of the Ferrari Luce, the car has been styled with a focus on luxury and performance, boasting a projected electric range of 329 miles, a 0-100km/h time of 2.5 seconds, and a total power output of 1050 cv.

Powered by a 122kWh battery, the Luce features four electric engines and a bespoke technical platform, with pricing starting at €550,000 or approximately £470,000. The auction drew criticism from some experts and fans, who lambasted the car's design and specifications following its debut. Sir Jony Ive, who collaborated with Marc Newson on the Luce's design, faced scrutiny over the product.

Former Ferrari chairman Luca di Montezemolo expressed concerns, claiming that the Luce "risked the destruction of a legend." The $40 million price tag made the Luce the headline item at the auction, while a 1996 McLaren F1 GTR sold for £34.6 million to secure the second-highest spot. Tosin Oyediran, a seasoned journalist, reported the sale, noting its impact on the supercar market.