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

Ferrari's inaugural electric vehicle, the Luce, recently sold for a record-breaking $40 million at an auction in California. The car, which debuted in May, was designed by the renowned iPhone creator, Sir Jony Ive. The RM Sotheby's auction generated more than 35 times the usual value of a Ferrari Luce. The Luce, a limited production model, boasts unique elements such as bespoke parts and a distinctive finish.

Despite the high price, the car received criticism from some quarters, including Italy's Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who felt it risked damaging the brand's legacy. Proceeds from the sale will support the Ferrari Foundation's educational programs. Sotheby's did not disclose the buyer's identity.