Ferrari’s first electric car sells for $40m

Ferrari’s first electric car, the Luce, has fetched $40 million at auction, marking a historic moment for the Italian automaker. The 2026 “Tailor Made” version of the Luce was sold at RM Sotheby’s auction in Monterey, California, over the weekend. This sale, which far exceeded initial expectations, highlights both the growing interest in electric vehicles and the enduring prestige of the Ferrari brand. The Luce, described by Ferrari as the first production model of its electric initiative, was built to meet U.S. specifications and features a unique Madreperla Semi-Gloss exterior finish. Its interior, crafted through Ferrari’s Tailor Made program, includes Le Mans metallic leather in Perla. The vehicle also carries a dedicated plaque, signifying its status as the first production chassis of the Luce program. The car will soon return to Maranello, Italy, and be delivered to its anonymous buyer in early 2027. The auction took place amid mixed public reaction to the Luce’s design and specifications. Some automotive experts and enthusiasts expressed skepticism upon the model’s launch, questioning whether the shift to electric power could maintain the brand’s traditional performance standards. Despite this, the Luce’s sale at $40 million surpassed many predictions, making it the top-selling vehicle at the event. A 1996 McLaren F1 GTR followed closely behind, selling for £34.6 million. Designed by Sir Jony Ive, the Luce was developed in collaboration with Marc Newson and his LoveFrom collective. The car boasts an electric range of 329 miles, a 0–100 km/h acceleration time of just 2.5 seconds, and a maximum total power output of 1050 horsepower. It is equipped with a 122 kWh battery, four electric motors, and a custom-built technical platform. These specifications position the Luce as a high-performance electric vehicle capable of competing with traditional supercars. Pricing for the Luce starts at €550,000, approximately £470,000. While this figure represents a premium, the auction price of $40 million underscores the rarity and exclusivity of the “Chassis 0” unit. Ferrari described the sale as an “unrepeatable opportunity” to acquire one of the most complete and significant expressions of the Tailor Made program. The proceeds from the auction will be donated to the Ferrari Foundation, supporting educational initiatives aimed at nurturing young talent in motorsport and engineering. Not all within the industry welcomed the transition to electric vehicles. Former Ferrari chairman Luca di Montezemolo voiced concerns, stating that the Luce “risked the destruction of a legend.” His comments reflect broader debates within the automotive world regarding the balance between innovation and heritage. However, the success of the Luce at auction suggests that there is still substantial demand for high-end, limited-edition vehicles, even in the evolving landscape of sustainable transportation. As the Luce prepares for delivery to its buyer, the sale serves as a milestone for Ferrari’s electrification strategy. With the global shift toward electric mobility accelerating, the company continues to navigate the challenges of maintaining its legacy while embracing new technologies. The Luce’s auction result indicates that, at least in certain markets, the allure of exclusivity and craftsmanship can command extraordinary prices, even in the face of controversy.