Ferrari's First EV Fetches Record $40M at Charity Auction

Ferrari's foray into electric vehicles has already made history: the first production Luce, a customized EV, sold for $40 million at a charity auction in California, setting a record for a new vehicle sold at auction. The buyer remains unnamed. Proceeds will support the Ferrari Foundation's education programs.

The sale price surpassed the Luce's typical cost by more than 35 times and eclipsed the previous record for a new Ferrari at auction: a bespoke Daytona SP3 that brought $26 million in 2025 for the same foundation.

The Luce, which debuted in May, represents Ferrari's first electric model. It was developed with input from former Apple designer Sir Jony Ive, making it one of the company's most anticipated launches in recent years.

However, the car has faced criticism since its reveal. Detractors argue that the five-seat battery-powered vehicle strays too far from Ferrari's design heritage. Notable critics include Italy's deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who warned that Ferrari was "risking the destruction of a legend."

In response, Ferrari's chief design officer, Flavio Manzoni, said in May that innovation often attracts criticism and expressed confidence that the Luce would eventually win appreciation.

The launch drew unusual public attention, with Italian President Sergio Mattarella and Pope Leo invited to view the car. Yet, Ferrari's shares dipped the day after the unveiling amid the backlash.

Ferrari has not announced a sales target for the Luce, but the Financial Times reports that the company has already met its annual goal, fueled by demand from China.

RM Sotheby's described the auction as an "unbeatable opportunity" for a buyer to own the first production Luce, calling the sale a "tangible expression of innovation, responsibility, and long-term vision for future generations."

While the $40 million price is a record for a new vehicle, it falls short of the all-time auction record for any car: a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.