{
  "id": 1398947,
  "title": "Ferrari's first ever electric car sold for record $40m at auction",
  "url": "https://urgent.news/2026/08/17/ferraris-first-ever-electric-car-sold-for-record-40m-at-auction-1398947",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-17T02:22:04.000Z",
  "source": {
    "name": "BBC Business",
    "slug": "bbc-business",
    "url": "https://www.bbc.co.uk/news/articles/c77ggpgrp2do?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "Ferrari's inaugural electric vehicle, the Luce, has been sold at auction for a record-breaking $40 million, setting a new benchmark for new car sales at auctions. The Sotheby's auction in California surpassed the typical price of a Ferrari Luce by more than 35 times. The Luce, conceived by iPhone designer Sir Jony Ive, stands out with its distinctive finish and custom parts. However, the car's launch in May sparked controversy, with critics arguing that it deviated from Ferrari's traditional design aesthetic and sacrificed some of the brand's identity by being an electric vehicle with five seats.\n\nDespite the backlash, the Luce's unveiling was deemed one of the most significant car launches in recent years, marking Ferrari's first foray into the electric vehicle market, an industry led by Tesla and Chinese manufacturers. High-profile figures such as Italian President Sergio Mattarella and Pope Leo II were invited to view the luxury brand's pioneering vehicle. The car's unique features include special wheels, custom brakes, and an exclusive white finish.\n\nThe auction for the Luce raised over £29.5 million for the Ferrari Foundation's educational programs, with all proceeds going to charity. Sotheby's did not disclose the identity of the buyer. The BBC has reached out to the auction house and Ferrari for additional information.\n\nThe Luce's debut was a major launch for Ferrari, signaling the company's entry into the rapidly growing electric vehicle sector. Italian President Sergio Mattarella and Pope Leo II were among the invited guests to witness the launch of this cutting-edge vehicle. Despite generating significant interest and the highest price paid for a new Ferrari at auction in 2025, the car faced criticism from Ferrari's former chairman, Luca Cordero di Montezemolo, and Italy's deputy prime minister, Matteo Salvini. Sotheby's described the Luce as an \"unbeatable opportunity\" for collectors to own the first production car of this innovative model.",
  "summary": "The Luce's launch drew backlash from some commentators who said it broke from the brand's signature dramatic styling.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "BBC World",
        "title": "Ferrari's first ever electric car sold for record $40m at auction",
        "url": "https://urgent.news/2026/08/17/ferraris-first-ever-electric-car-sold-for-record-40m-at-auction",
        "published": "2026-08-17T02:22:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}