Archive · 17 Aug 2026
Ferrari's First Electric Car Fetches $40 Million at Auction
Ferrari is a famous car company that usually makes loud, fast sports cars with engines that burn fuel.
Now Ferrari has made its very first car that runs on electricity, like a big battery-powered car.
The car is called the Luce.
A special one-of-a-kind Luce was sold at a big auction to help charity.
Someone paid $40 million for it, which is a huge amount of money.
That makes it the most expensive new car ever sold at an auction.
The person who bought it wants to stay a secret.
Some Ferrari fans are not happy about the electric car because they love the old engine cars.
The car was designed with help from Jony Ive, the person who helped design the iPhone.
Ferrari's boss says the car is special and different from other electric cars.
Ferrari's first fully electric car, the Luce, sold for $40 million (approximately ₹382.44 crore) at a Sotheby's charity auction during Monterey Car Week in California.
The sale set a new record for the most expensive new car ever sold at auction, surpassing the $26 million paid for a customized Daytona SP3 in 2025.
The Luce was unveiled in May with a starting price of €550,000 ($636,356) and was met with criticism from some enthusiasts as a departure from Ferrari's traditional combustion-engine sports cars.
The four-door, tailor-made car, designed with LoveFrom, the studio founded by former Apple design chief Jony Ive, combines more than 1,000 horsepower.
Ferrari shares gained as much as 1.4% in Milan on Monday, with the stock up 13% so far this year through Friday, helped by demand for high-priced models like the $3.6 million F80 hybrid.
The identity of the buyer has not been disclosed, and Ferrari has yet to reveal detailed sales figures for the Luce.
- Who
- Ferrari, the Italian luxury carmaker, and its CEO Benedetto Vigna; the buyer's identity was not disclosed.
- What
- Ferrari's first fully electric car, the Luce, sold for $40 million at a charity auction, setting a record for the most expensive new car ever sold at auction.
- When
- Over the weekend during Monterey Car Week; the Luce was unveiled in May.
- Where
- Monterey Car Week in California, auctioned by Sotheby's.
- Why
- The car was sold at a charity auction, and the record price reflects demand for limited-run, tailor-made Ferrari models.
Critics
Ferrari
Electric shift
Critics
Some enthusiasts criticized the Luce's launch, viewing the electric model as a significant departure from Ferrari's traditional combustion-engine sports cars, and the launch coincided with a decline in the carmaker's share price.
Ferrari
Ferrari CEO Benedetto Vigna defended the model, saying it has nothing to do with electric cars from other players and that it wasn't copied in its interiors, exterior, or performance.
- Car model
- Ferrari Luce (first fully electric Ferrari)
- Auction price
- $40 million (approximately ₹382.44 crore)
- Auction house
- Sotheby's
- Event
- Monterey Car Week, California
- Previous record
- $26 million for a customized Daytona SP3 in 2025
- Starting price
- €550,000 ($636,356)
- Design collaboration
- LoveFrom, founded by Jony Ive
- Performance
- More than 1,000 horsepower, four doors