Key facts
- Ferrari's first all-electric car is named the "Luce."
- The "Luce" sold for $40 million at auction.
- The auction was conducted by RM Sotheby's.
- The auction took place in California.
- Proceeds from the sale will benefit the Ferrari Foundation.
- The Ferrari Foundation's educational programs will receive the funds.
Ferrari has set a new record with the sale of its inaugural all-electric vehicle, the "Luce," which fetched an astonishing $40 million at an RM Sotheby's auction held in California. This landmark event signifies Ferrari's significant step into the burgeoning electric vehicle sector, with its first-ever EV commanding a premium price. The substantial revenue generated from this unique sale is earmarked for the Ferrari Foundation, a charitable arm of the company, to bolster its educational programs. This initiative highlights Ferrari's dual focus on pioneering automotive technology and contributing to societal development through education. The "Luce" itself represents a fusion of Ferrari's performance heritage with cutting-edge electric powertrain technology, making it a highly sought-after collector's item. The auction's success not only underscores the desirability of exclusive automotive assets but also signals a strong market appetite for sustainable luxury vehicles. The funds raised will support various educational projects, aiming to foster talent and provide opportunities within the automotive and technological fields, aligning with Ferrari's long-term vision.