Ferrari's first ever electric car sold for record $40m at auction

Ferrari's inaugural electric vehicle, the Luce, recently sold for $40 million at a charity auction, establishing a record for a new vehicle sold at auction. The exclusive Luce, designed by British iPhone designer Sir Jony Ive, exceeded the car's typical price by more than 35 times at the event held at RM Sotheby's in California.

The launch of the Luce in May faced criticism from some observers who felt it deviated from Ferrari's traditional designs and identified as a battery-powered vehicle with seating for five. All proceeds from the sale will be donated to the Ferrari Foundation's educational programs, with the identity of the buyer undisclosed. The unveiling of the Luce was considered one of the most significant car launches in recent years, marking Ferrari's first foray into the electric vehicle market, which is currently led by Tesla and Chinese manufacturers.

Despite the backlash and a subsequent drop in Ferrari's share price the day after the Luce's launch, the car has hit the company's sales target this year due to strong demand from China. Sotheby's stated that the auctioned vehicle presented a unique opportunity to own the first production car of the Luce. The car features special wheels, customized brakes, and a white finish.