First electric Ferrari sets $40 million auction record and is sold out
Ferrari's first all-electric car has sent shock waves through the luxury and supercar industry. At an RM Sotheby's charity auction during Monterey Car Week in California, the first production Ferrari Luce sold for $40 million to US billionaire and Ferrari collector Herbert A. Wertheim.
No factory-new electric performance car has ever reached such a high price at auction. The record-setting Ferrari Luce, known as "Chassis 0," features a custom pearlescent finish called Madreperla Semi-Gloss that shifts between shades of green and purple depending on the light.
Yet the Ferrari Luce appeared to be heading for a major setback when it debuted in May. Its futuristic, radically minimalist design, created by former Apple design chief Jony Ive and his partner Marc Newson, sparked an outcry among purists. Four doors, five seats and a silent electric powertrain in place of a screaming mid-mounted V12 turned many Ferrari enthusiasts against the Luce. Former Ferrari chairman Luca di Montezemolo even demanded that the company "remove the famous Prancing Horse" from the electric model, while Ferrari shares fell by more than 8 percent on the Milan stock exchange.
Yet the online ridicule and anger from traditionalists have had no effect on the commercial success of Ferrari's Italian electric sports car, the Luce. Despite its roughly $640,000 price tag, the model, which accelerates from 0 to 100 kph in just 2.5 seconds, has become a major sales success among wealthy buyers. According to the Financial Times, Ferrari reached its full-year 2026 target of nearly 500 units in record time. The Ferrari Luce was completely sold out by July, just two months after orders opened.
An entirely new customer base is driving the surge in demand. Wealthy buyers, particularly in China and among newly rich tech entrepreneurs in Silicon Valley, are flocking to Ferrari. The company is pursuing a strict strategy, instructing dealers not to persuade longtime collectors of classic combustion-engine models to buy the EV. Instead, Ferrari is targeting a younger elite from the AI and tech sectors who are already accustomed to luxury electric cars.
The Italian automaker plans to put around 2,500 Luce units on the road by 2030, equivalent to an annual production of roughly 600 vehicles. Ferrari CEO Benedetto Vigna has already stressed that the move into EVs will not jeopardize the company's industry-leading operating margin of 30 percent. Regular customers will begin receiving their cars in October, while the unique $40 million example will be delivered to its new owner in early 2027 after the finishing touches.
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