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

Ferrari's inaugural electric vehicle, the Luce, was auctioned off for an impressive $40 million at a charity event, setting a new record for the highest price paid for a new car at an auction. The all-electric car, created by the renowned iPhone designer Sir Jony Ive and produced as a limited edition, was met with some controversy upon its release, as it strayed from Ferrari's traditional designs and was powered by batteries, featuring five seats.

The luxury vehicle was unveiled at a time when Ferrari was venturing into the electric vehicle (EV) market, a sector that is currently led by companies like Tesla and various Chinese manufacturers. Notable figures such as Italian President Sergio Mattarella and Pope Leo II were invited to witness the unveiling of the first production chassis of the Luce.

Despite the initial backlash, the car showcased unique finishes, bespoke components, and special wheels and brakes. All proceeds from the auction will be donated to the Ferrari Foundation's educational programs. While Ferrari's shares experienced a decline the day following the Luce's launch due to criticism from figures including Italy's deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, the automaker has reportedly met its sales target for the Luce this year, thanks to strong demand, particularly from China.

The car's special features include unique wheels, customised brakes, and a white finish. Sotheby's, the auction house responsible for the sale, described the Luce as an "unbeatable opportunity" to own the first production model of the car, emphasizing its significance in terms of innovation, responsibility, and vision for future generations.