Ferrari’s First Electric Car Sells for Record $40 Million at Charity Auction
Ferrari’s first fully electric car, the bespoke Luce “Chassis 0,” has sold for a record $40 million at auction, becoming the most expensive new car ever sold at auction.
Ferrari has made automotive history with the sale of its first fully electric car for an extraordinary $40 million, setting a new world record for the highest price ever paid for a new vehicle at auction.
The one-off Ferrari Luce “Chassis 0” was sold during Monterey Car Week in California through RM Sotheby’s, with the proceeds going to the Ferrari Foundation to support education initiatives around the world. The result dramatically exceeded its pre-sale estimate of about $1.1 million and surpassed the previous record of $26 million. (Reuters)
The sale represents a remarkable moment for Ferrari as the Italian luxury automaker moves into the electric era while attempting to preserve the exclusivity, performance and emotional appeal that have defined the brand for decades.
Ferrari Luce makes history
The Ferrari Luce is the company's first production fully electric vehicle and represents a significant departure from Ferrari's traditional reliance on internal-combustion engines.
Ferrari unveiled the Luce in 2026 as a five-seat, four-door electric grand touring model. Its introduction marked a major technological and strategic step for the company, which has historically built its identity around high-performance petrol engines.
The auctioned vehicle was not an ordinary production Luce. Known as “Chassis 0,” it is the first production chassis of the Luce programme and was specially customised by Ferrari's Tailor Made division and design centre.
Its unique status as the first example of a completely new chapter in Ferrari's history made it particularly attractive to collectors.
$40 million breaks auction record
The $40 million winning bid represents an extraordinary premium over the car's expected value.
Before the auction, RM Sotheby's estimated that the vehicle could sell for more than $1.1 million. Instead, the final figure was roughly 36 times the auction estimate.
More importantly, Ferrari said the transaction established a new world record for the most expensive new car ever sold at auction, surpassing the $26 million paid for a specially commissioned Ferrari Daytona SP3 at a charity auction in 2025.
The result demonstrates the extraordinary premium collectors can place on historically significant vehicles, particularly when the car represents the beginning of a new era for an iconic manufacturer.
However, the $40 million price should not be interpreted as the normal retail price of the Ferrari Luce. The car sold at auction was a unique, specially prepared first chassis, while regular Luce models have a dramatically lower starting price.
From about $638,000 to $40 million
Ferrari introduced the Luce at a starting price of approximately €550,000, or about $638,000.
That makes the $40 million auction result more than 60 times the vehicle's standard starting price.
The enormous difference is explained by the uniqueness of Chassis 0, its historical importance and the charitable nature of the auction.
The buyer, whose identity was not immediately disclosed, purchased more than just a luxury electric car. The vehicle represents the first chapter of Ferrari's transition into fully electric mobility.
According to reports, the buyer will not take immediate delivery, with final preparation and delivery expected in 2027. (The Times of India)
Designed for Ferrari's electric future
The Luce represents Ferrari's attempt to combine electric technology with the company's established performance philosophy.
The vehicle uses a four-motor electric powertrain and produces more than 1,000 horsepower, giving it performance figures comparable with some of Ferrari's most powerful combustion-engine models. (The Economic Times)
The car can accelerate from zero to 100 kilometres per hour in approximately 2.5 seconds and has a top speed exceeding 310 km/h, according to reports on the vehicle.
Ferrari has been careful to position the Luce not simply as an electric car but as a Ferrari designed around the company's traditional emphasis on performance and driving emotion.
That approach is important because Ferrari's transition to electric power has generated debate among some traditional enthusiasts.
Jony Ive brings technology-world influence
Another distinctive feature of the Luce is its design development.
Ferrari worked with Sir Jony Ive, the celebrated former Apple design chief, and his LoveFrom design collective on elements of the vehicle's design.
Ive is widely associated with some of Apple's most influential products, including the iMac, iPod, iPhone and iPad. His involvement gives Luce an unusual connection between the worlds of luxury automobiles and consumer technology.
The minimalist design philosophy has generated mixed reactions among Ferrari enthusiasts, with some praising the company's willingness to experiment while others have questioned whether the vehicle looks sufficiently like a traditional Ferrari.
Nevertheless, the $40 million auction result suggests that the car's historical significance has resonated strongly with at least some collectors.
Ferrari's electric gamble
The auction comes at a crucial point in Ferrari's broader electrification strategy.
The company has been gradually introducing hybrid technology while maintaining combustion-engine models. Luce represents the next major step in that strategy.
Ferrari has previously said it intends to maintain a diversified portfolio consisting of internal-combustion, hybrid and electric vehicles rather than abandoning traditional engines altogether. Its corporate strategy envisions electric models accounting for about 20% of its sports-car lineup by 2030. (Ferrari)
Ferrari's approach differs from that of mass-market automakers, which are pursuing electrification on a much larger scale.
For Ferrari, limited production and exclusivity remain central to its business model.
Strong demand despite controversy
Luce initially faced criticism from some traditional Ferrari fans and investors following its unveiling.
Ferrari's shares reportedly fell after the vehicle's launch, reflecting concerns about whether an electric Ferrari could maintain the brand's appeal.
Yet demand for the vehicle has reportedly been strong.
Reuters reported in July that Ferrari CEO Benedetto Vigna said the company was “very pleased” with orders for the Luce. Ferrari had already reached its 2026 sales target of nearly 500 units, helped by strong interest from China.
The Financial Times subsequently reported that Ferrari had reached its 2026 sales target within two months of Luce’s launch, suggesting that the market response has been stronger than some early criticism indicated. (Financial Times)
$40 million goes to charity
Perhaps one of the most significant aspects of the sale is that the money will not simply go into Ferrari's coffers.
The entire $40 million proceeds will support the Ferrari Foundation's educational initiatives globally.
The charitable element also helps explain why the auction price reached such an extraordinary level.
For the successful bidder, the purchase provides ownership of an historically important Ferrari while simultaneously contributing to philanthropic causes.
It also allows Ferrari to promote its electric transformation while associating the company's first EV with a global charitable initiative.
What the record means for Ferrari
The $40 million sale is unlikely to mean that electric Ferraris will routinely command such prices. Instead, its importance lies in what the car represents.
The Luce is the first fully electric Ferrari, and Chassis 0 is effectively the beginning of a new chapter in the company's history.
The extraordinary auction result demonstrates that Ferrari's brand power extends beyond its traditional engine technology. Collectors are willing to pay huge sums for vehicles that represent important moments in the company's evolution.
For Ferrari, the challenge now is to turn the attention surrounding Chassis 0 into sustained enthusiasm for its electric range.
The company has already demonstrated that its first EV can attract customers. The record-breaking auction adds another powerful message: Ferrari's electric future may be controversial, but it is already highly valuable.
As the Luce enters the hands of its first customers and Ferrari expands its electric lineup, the $40 million Chassis 0 will likely remain a landmark vehicle, a symbol of the moment one of the world's most famous performance-car manufacturers officially entered the electric age.