Exclusive model of Ferrari’s first electric car, Luce, sells for record $40 million | CNN Business

A bespoke model of Ferrari’s first-ever fully electric car, the Luce, has sold for $40 million, breaking the record for the most expensive new car ever sold at auction. The high bid for the tailor-made Ferrari Luce “Chassis 0” comes just months after the Italian luxury sports car maker’s share price fell by more than 8% on the Milan stock exchange following the unveiling of the Luce in May. The EV, which sports a bubble-like design that radically differs from Ferrari’s typical angular car features, received unflattering reviews from some Ferrari fans at the time. Yet, in a charity auction during Monterey Car Week in California on Saturday, the Luce sold for 36 times its original estimate of $1.1 million, according to the collector car auction company RM Sotheby’s. “The bids kept climbing. Then, history was made,” Ferrari USA wrote in an Instagram post on Sunday, adding that the sale set “a new record for the highest-priced new car ever sold at auction.” All the proceeds from the sale will go to The Ferrari Foundation to support educational initiatives, the car maker said. CNN has contacted Ferrari for further comment. While the Luce (Italian for “Light”), wh