{
  "id": 1475771,
  "title": "Ferrari’s first electric car sells for $40m",
  "url": "https://urgent.news/2026/08/17/ferraris-first-electric-car-sells-for-40m",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-17T12:10:50.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/ferraris-first-electric-car-sells-for-40m/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "Ferrari's first production electric car, the Luce, has sold for a record-breaking $40 million at a charity auction. The 2026 Ferrari Luce Tailor Made, identified as \"Chassis 0\", was sold at a Sotheby's charity auction during Monterey Car Week in California, according to Gulf News. This sale surpassed the previous record set last year, when a customised Ferrari Daytona SP3 fetched $26 million.\n\nThe auctioned car was configured through Ferrari's Tailor Made program and all proceeds from the sale will be donated to The Ferrari Foundation, a recognised 501(c)(3) public charity, to support future educational initiatives.\n\nFerrari unveiled the Luce in May with a price of €550,000, or about $636,356. The model was designed with LoveFrom, the studio founded by former Apple design chief Jony Ive, and combines more than 1,000 horsepower with four doors, as per Gulf News.",
  "key_points": [
    "Ferrari's first electric car, Luce, sold for $40 million at auction.",
    "Luce was the first production chassis of the Ferrari Luce program.",
    "Proceeds will support educational initiatives via the Ferrari Foundation."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Ferrari’s first electric car sells for $40m",
        "url": "https://urgent.news/2026/08/17/ferraris-first-electric-car-sells-for-40m-1480096",
        "published": "2026-08-17T12:40:50.000Z"
      }
    ]
  },
  "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."
}