The inaugural Ferrari Electric Car has written itself into automotive history after selling for a record $40m (£29.5m) at a charity auction. The sale of the highly anticipated Ferrari Luce—the brainchild of British former Apple designer Sir Jony Ive’s design team—raised more than 35 times the model’s standard retail price during a landmark luxury EV auction hosted by RM Sotheby’s in California.
The custom vehicle, known as “Chassis 0”, represents the very first production chassis of the Italian marque’s flagship battery-powered model. Bidders engaged in a fierce battle during Monterey Car Week, far outstripping initial pre-sale estimates. RM Sotheby’s confirmed that every penny of the proceeds will go directly to funding educational programmes managed by the Ferrari Foundation, with the auction house waiving its standard buyer’s fees to maximise the charitable contribution.
The jaw-dropping price tag arrives just months after the Luce sparked fierce controversy across the automotive world following its official debut in May. Critics pointed out that the five-seater battery-powered grand tourer strayed too far from the brand’s sacred performance roots.
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The debut of the Luce stood out as one of the most monumental industry milestones in modern memory. It marked the Prancing Horse’s maiden voyage into the burgeoning electric vehicle sector—a domain currently led by Elon Musk’s Tesla and high-volume Chinese manufacturing giants.
High-profile global dignitaries, including Italian President Sergio Mattarella and Pope Leo, were granted exclusive private viewings of the new machine ahead of its public reveal. Despite the elite endorsement, market backlash proved immediate. Ferrari saw its stock price drop the day after the launch as traditionalists vented their frustration.
Prominent figures inside Italian motoring circles voiced severe misgivings regarding the shift toward high-end electric mobility. Italy’s Deputy Prime Minister Matteo Salvini expressed open concern, while former Ferrari chairman Luca Cordero di Montezemolo delivered a scathing critique, stating that the car was “risking the destruction of a legend”.
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Despite the initial storm, executives inside Maranello remained resolute. Ferrari’s chief design officer Flavio Manzoni stood by the radical aesthetic choices, asserting in a May interview that harsh criticism is an inevitable part of the innovation process and expressing confidence that purists would eventually embrace the vision.
Market momentum appears to back Manzoni’s conviction. Although Ferrari has kept long-term volume figures guarded, a Financial Times report confirmed that the factory has already fulfilled its annual production quota, driven largely by surging demand across China.
Sotheby’s highlighted that the auctioned lot offered collectors an “unbeatable opportunity” to secure the definitive origin point of Ferrari’s zero-emission era. The $40m specimen features a bespoke white finish, dedicated lightweight wheels, and custom-engineered brake assemblies crafted specifically for this unit. Sotheby’s described the sale as a “tangible expression of innovation, responsibility, and long-term vision for future generations”.
Historical auction data shows that rare Ferraris consistently fetch premier valuations worldwide. In 2025, a bespoke Ferrari Daytona SP3 generated $26m for educational causes, briefly setting the benchmark for new production vehicles before being eclipsed by the Luce. The absolute record for any car sold under the hammer remains the ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which commanded $142m in 2022.
