Ferrari’s first electric car sells for £30m

Ferrari’s first all-electric car faced heavy criticism and a drop in share value when it debuted, but a charity auction in California has rewritten the commercial rules for battery-powered supercars according to Yahoo News SG. The vehicle, known as the Luce, generated widespread mockery upon its initial May unveiling. Detractors compared the design to everyday hatchback models and former company insiders offered scathing critiques.

Yet the Man of Many report notes that the first production chassis shattered expectations during Aol reporting at Monterey Car Week. The bespoke vehicle achieved a world record for a new vehicle sold at auction.

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From Contempt to Record Bids

When the Maranello carmaker first pulled the covers off its zero-emission offering, the reaction proved volatile. Luca Cordero di Montezemolo, Ferrari's former chairman, argued that the machine risked destroying the brand's heritage, going so far as to suggest removing the iconic prancing horse emblem. Another former company executive dismissed the vehicle as an insult to motoring enthusiasts, with the Luce described in source material as an aesthetic and technological insult to anyone who loves Ferrari. Commenters online also joined the mockery, with Spanish investor Fernando Sánchez writing on social media, Wow, 40 million for a washing machine with a Ferrari logo. Unbelievable.

The backlash claimed casualties within the corporate structure. Enrico Galliera, a long-serving marketing chief, stepped down following the launch. Massimiliano Di Silvestre assumed the role after transitioning from his post leading BMW's Italian operations.

Chief executive Benedetto Vigna firmly defended the project. He insisted critics need to experience the vehicle firsthand to appreciate its originality, stating: You have to see it and drive it to understand that it wasn’t copied – not the interiors, not the exterior, not the performance. The four-door saloon packs a quad-motor layout paired with an 800V architecture and a 122kWh battery pack. It produces high torque alongside a rapid acceleration time, reaching 62mph in a matter of seconds.

Inside Chassis 0

The record-breaking lot, catalogued as Chassis 0, features custom specifications developed through the brand's ultra-exclusive customisation program. Working alongside Sir Jony Ive’s LoveFrom design studio, the team created a mother-of-pearl white exterior finish utilising custom pigments that shift appearance depending on the light. The interior incorporates reflective Swiss leather hides and specialized trim elements.

RM Sotheby’s waived all buyer’s premiums for the charity sale. This ensured that the full winning sum goes directly to the Ferrari Foundation to support global educational initiatives.

Auction Floor Drama

Bidding started at a modest level before escalating rapidly in massive increments. A bidder communicating via iPhone placed the winning bid on behalf of an anonymous buyer. Rumours subsequently linked the purchase to prominent technology figures, though no official identity has been confirmed.

British auctioneer Sholto Gilbertson brought the hammer down on the historic lot, declaring:

"Going for the third and final time, here, only as can be done at RM Sotheby's, the car is sold"

Sholto Gilbertson, British auctioneer, via Yahoo News SG and AOL

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While the transaction sets a new benchmark for brand-new production cars, it remains below historical records held by vintage classics. Rare historical racing machines continue to command higher figures on the open market.

What to Watch Next

• Chassis 0 is returning to Maranello, Italy, for final assembly verification.
• Customer deliveries for the bespoke model are officially scheduled to begin in the first quarter of next year.
• Standard production models of the electric saloon are slated for wider market distribution as commercial orders are fulfilled.