Ferrari's first ever electric car sold for record $40m at auction
The Luce's launch drew backlash from some commentators who said it broke from the brand's signature dramatic styling.
Ferrari's inaugural all-electric vehicle, the Ferrari Luce, commanded a record-breaking $40 million (£29.5 million) at a charity auction, establishing a new benchmark for a new car sold at auction.
The Sotheby's auction, held in California, saw the Luce fetch over 35 times its typical price. The auction catalog highlighted the vehicle as a special model, distinguished by a unique finish and custom-made components.
Launched in May, the Luce, conceived by iPhone designer Sir Jony Ive, encountered criticism upon its debut. Some commentators argued that its battery-powered, five-seat configuration deviated from Ferrari's traditional designs, thereby diminishing a part of the brand's identity.
Sotheby's confirmed that all proceeds from the sale will be directed to the Ferrari Foundation's educational initiatives. The auction house did not disclose the buyer's identity, and the BBC has sought further information from both Sotheby's and Ferrari.
The unveiling of the Luce was considered a significant new car launch in recent years, signaling Ferrari's entry into the electric vehicle (EV) market. This sector is largely dominated by Elon Musk's Tesla and Chinese car manufacturers.
Italian President Sergio Mattarella and Pope Leo were among those invited to view the luxury vehicle. However, Ferrari's shares experienced a decline the day after the Luce's launch, following the criticism it received. The car also drew censure from the company's former chairman, Luca Cordero di Montezemolo, and Italy's deputy prime minister, Matteo Salvini.
Sotheby's issued a statement describing the auctioned vehicle as an "unbeatable opportunity" to acquire the first production model of the Luce. The car features special wheels, customized brakes, and an exclusive white finish. Sotheby's characterized the charity sale as a "tangible expression of innovation, responsibility, and long-term vision for future generations."
Previously, a bespoke Daytona SP3 supercar raised $26 million for Ferrari's education initiatives at a 2025 auction, setting a record at the time for the highest price paid for a new Ferrari sold at auction. Ferrari had intended for the Luce to compete with Chinese EVs, but the backlash ensued. Global car manufacturers are currently facing challenges in competing with China.