Ferrari’s first electric car sells for record $40 million at auction
By Thasmiya
Ferrari’s first fully electric production car has made history before reaching its new owner. A unique **Ferrari Luce “Chassis 0” sold for $40 million** at a charity auction during Monterey Car Week, setting a new world record for the most expensive new car ever sold at auction. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
The extraordinary result is equivalent to roughly **AED 147 million** and dramatically exceeded expectations for the one-off electric Ferrari.
## **What exactly sold for $40 million?**
The car was not a regular production Ferrari Luce.
It was **Chassis 0**, the first production chassis from Ferrari’s first fully electric model programme. Ferrari created the car as a bespoke one-off through its Tailor Made division and Ferrari Design Centre before offering it through RM Sotheby’s at Monterey Car Week in California. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
Its combination of historical significance, one-off specification and charitable purpose made it considerably more collectible than a standard Luce.
## **A new world record for a new car**
The $40 million winning bid established a record for the **highest price ever paid for a new car at auction**.
The previous record was $26 million, also associated with a Ferrari — a Daytona SP3. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
That means the Luce surpassed the previous benchmark by an extraordinary $14 million.
It is important to distinguish this from records for classic cars. Historic vehicles have previously sold for considerably more, but the Luce record applies specifically to a **new vehicle sold at auction**.
## **How much is $40 million in UAE dirhams?**
At the UAE dirham’s fixed exchange rate against the US dollar, $40 million works out to approximately **AED 146.9 million**.
For perspective, the standard Ferrari Luce reportedly starts at around **€550,000**, while the Chassis 0 auction car had initially been expected to fetch more than approximately $1.1 million. ([Financial Times](https://www.ft.com/content/11ac28b0-0c82-4d4a-bcb4-0e0dae44cf87?utm_source=chatgpt.com))
The final $40 million result was therefore far beyond its original auction expectations.
## **Why is Chassis 0 so special?**
Several details separate this Luce from future customer cars.
Most importantly, it represents the first production chassis from Ferrari’s first-ever fully electric vehicle programme.
Ferrari also gave the car an exclusive Tailor Made specification.
Its exterior uses a unique **Madreperla Semilucida** finish developed specifically for the vehicle. The paint incorporates a special pigment capable of producing iridescent reflections that shift from green to violet depending on the angle and intensity of the light. ([ANSA.it](https://www.ansa.it/canale_motori/notizie/mondo_motori/2026/07/13/ferrari-luce-allasta-lesemplare-con-chassis-numero-0_7db90db6-3608-4536-9626-8a5e6b24b68e.html?utm_source=chatgpt.com))
White wheels, matching brake callipers and other specially finished exterior details further distinguish Chassis 0.
## **The interior is also completely bespoke**
Ferrari continued the light-focused theme inside the five-seat cabin.
The interior uses specially developed **Le Mans metallic leather in Perla**, produced using selected Swiss hides and designed to reflect and diffuse light throughout the cabin.
Grigio Corvara interior elements replace some of the darker finishes found in other specifications, creating a brighter and more minimalist appearance. ([ANSA.it](https://www.ansa.it/canale_motori/notizie/mondo_motori/2026/07/13/ferrari-luce-allasta-lesemplare-con-chassis-numero-0_7db90db6-3608-4536-9626-8a5e6b24b68e.html?utm_source=chatgpt.com))
The result is effectively a factory-built collector’s edition of a car that is already historically significant for Ferrari.
## **Ferrari’s first fully electric production car**
The Luce represents a major technological shift for the Maranello manufacturer.
Ferrari had already introduced electrification through hybrid models including the LaFerrari, SF90 Stradale and 296 GTB, but the Luce is its first production model powered entirely by electricity.
Ferrari began publicly revealing the production-ready architecture behind its first EV in 2025, saying the project incorporated more than **60 patented proprietary technological solutions**. ([Ferrari](https://www.ferrari.com/content/dam/ferrari-fcom/news/corporate/2025/10/pdf/CS_TechnologyandInnovationWorkshop_gbr.pdf?utm_source=chatgpt.com))
The company has emphasised that electric vehicles will complement rather than immediately replace its combustion-engine and hybrid cars.
## **How powerful is the Ferrari Luce?**
The Luce uses **four electric motors** and produces approximately **1,050 horsepower**, according to specifications reported ahead of the auction. ([ANSA.it](https://www.ansa.it/canale_motori/notizie/mondo_motori/2026/07/13/ferrari-luce-allasta-lesemplare-con-chassis-numero-0_7db90db6-3608-4536-9626-8a5e6b24b68e.html?utm_source=chatgpt.com))
Reported performance figures include acceleration from 0–100km/h in approximately **2.5 seconds** and a top speed exceeding **310km/h**. ([Cinco Días](https://cincodias.elpais.com/companias/2026-08-17/el-ferrari-luce-el-coche-electrico-de-la-marca-italiana-bate-el-record-de-40-millones-de-dolares-como-el-coche-nuevo-mas-caro.html?utm_source=chatgpt.com))
Ferrari has attempted to ensure that the move to battery power still delivers the performance and driving character expected from the brand.
## **Ferrari developed much of the EV technology itself**
Ferrari has stressed that many of the Luce’s major components were developed and manufactured in-house.
The chassis and bodyshell use **75% recycled aluminium**, which Ferrari says saves approximately 6.7 tonnes of CO₂ for every vehicle produced compared with using primary aluminium. ([Ferrari](https://www.ferrari.com/content/dam/ferrari-fcom/news/corporate/2025/10/pdf/CS_TechnologyandInnovationWorkshop_gbr.pdf?utm_source=chatgpt.com))
The project builds on Ferrari’s experience with electrification stretching back through its Formula 1 technology and hybrid road cars.
## **Demand has been stronger than expected**
The Luce generated divided reactions when it was unveiled, particularly because its design and electric powertrain represent such a significant departure from traditional Ferrari models.
However, demand appears to have been strong.
The Financial Times reported that Ferrari reached its 2026 sales target for the Luce within approximately two months, with nearly 500 cars accounting for its unofficial target for the year. ([Financial Times](https://www.ft.com/content/11ac28b0-0c82-4d4a-bcb4-0e0dae44cf87?utm_source=chatgpt.com))
Ferrari reportedly intends to maintain limited production rather than turning the Luce into a mass-volume electric model.
## **Where did the $40 million go?**
The auction was held for charity.
Proceeds from the sale will support **Ferrari Foundation education initiatives around the world**, according to Reuters. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
The charitable element is significant when interpreting the extraordinary price. Charity auctions can attract bids well beyond a vehicle’s conventional market value because buyers are contributing to a cause while acquiring something unique.
The $40 million figure therefore should not be treated as the expected resale value of a normal Ferrari Luce.
## **The buyer will have to wait**
Despite paying $40 million, the winning bidder will not immediately drive away in the car.
Customer delivery of the Chassis 0 vehicle is expected in **2027**, according to reports following the auction. ([The Times of India](https://timesofindia.indiatimes.com/world/us/ferraris-first-all-electric-car-sells-for-40-million-at-charity-auction-nearly-40-times-initial-estimate-of-1-1-million-buyer-wont-receive-it-until-2027/articleshow/133279287.cms?utm_source=chatgpt.com))
That means the buyer has effectively secured one of the most historically important modern Ferraris before regular Luce deliveries become widely established.
## **Why Ferrari’s first EV matters**
Ferrari’s move into fully electric cars represents a significant moment for the performance-car industry.
For decades, Ferrari has built much of its identity around high-revving combustion engines, including some of the world’s most celebrated V8 and V12 powertrains.
An electric Ferrari therefore raises a difficult engineering and branding question: how does a manufacturer known for engine sound and mechanical character create an EV that still feels unmistakably like a Ferrari?
The Luce is Ferrari’s first production answer to that question.
## **Ferrari is not abandoning petrol engines**
The arrival of the Luce does not mean Ferrari is becoming an EV-only manufacturer.
Ferrari’s strategy is based on offering customers a mixture of:
- Internal-combustion engines - Hybrid powertrains - Plug-in hybrids - Fully electric vehicles
Ferrari has repeatedly presented its electric programme as an expansion of customer choice rather than an immediate replacement for combustion models. ([Ferrari](https://www.ferrari.com/content/dam/ferrari-fcom/news/corporate/2025/10/pdf/CS_TechnologyandInnovationWorkshop_gbr.pdf?utm_source=chatgpt.com))
That strategy allows the company to experiment with electric technology while continuing to develop the engines that remain central to its heritage.
## **Could Chassis 0 become even more valuable?**
Possibly, but its future value is impossible to predict.
Collectors typically place a premium on historically significant cars, and Chassis 0 has several characteristics that could make it desirable decades from now:
It is Ferrari’s first production EV chassis.
It has a unique factory Tailor Made specification.
It marks a major transition point in Ferrari history.
It was sold through a high-profile charity auction.
It already holds an auction record.
However, the $40 million sale price was heavily influenced by the charitable nature of the auction, meaning future resale values cannot simply be compared with this result.
## **Why this matters**
The $40 million Ferrari Luce sale is about more than an exceptionally wealthy collector buying an expensive car.
It demonstrates how Ferrari can turn a technological transition into a collectible moment.
The company’s first fully electric production vehicle represents one of the biggest changes in Ferrari’s modern history. By making Chassis 0 a unique Tailor Made car and auctioning it for charity, Ferrari transformed that milestone into something collectors were willing to value at nearly AED 147 million.
Whether electric Ferraris eventually become as emotionally desirable as the company’s legendary V8 and V12 models remains an open question.
But Ferrari’s first EV has already secured one place in automotive history: **the most expensive new car ever sold at auction.**
## **FAQs**
### **How much did Ferrari’s first electric car sell for?**
The one-off Ferrari Luce Chassis 0 sold for **$40 million**, equivalent to approximately AED 146.9 million. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
### **Is it the most expensive Ferrari ever sold?**
No. Historic Ferraris have sold for higher amounts. The Luce set the record for the **most expensive new car sold at auction**.
### **What is Ferrari’s first electric car called?**
Ferrari’s first fully electric production model is called the **Ferrari Luce**.
### **Why was this particular Ferrari Luce so expensive?**
It is Chassis 0, the first production chassis from Ferrari’s first EV programme, and features a unique specification created by Ferrari’s Tailor Made division. The charity nature of the auction also contributed to the extraordinary bidding.
### **How powerful is the Ferrari Luce?**
The Luce uses four electric motors and produces approximately **1,050 horsepower**. ([ANSA.it](https://www.ansa.it/canale_motori/notizie/mondo_motori/2026/07/13/ferrari-luce-allasta-lesemplare-con-chassis-numero-0_7db90db6-3608-4536-9626-8a5e6b24b68e.html?utm_source=chatgpt.com))
### **How fast is it?**
Reported specifications put 0–100km/h acceleration at around 2.5 seconds, with a maximum speed above 310km/h. ([Cinco Días](https://cincodias.elpais.com/companias/2026-08-17/el-ferrari-luce-el-coche-electrico-de-la-marca-italiana-bate-el-record-de-40-millones-de-dolares-como-el-coche-nuevo-mas-caro.html?utm_source=chatgpt.com))
### **Where was the car auctioned?**
It was sold through RM Sotheby’s during **Monterey Car Week in California**.
### **Where will the auction money go?**
Proceeds will support global education initiatives through the **Ferrari Foundation**. ([Reuters](https://www.reuters.com/business/autos-transportation/ferraris-bespoke-luce-ev-one-off-fetches-40-million-charity-auction-2026-08-17/?utm_source=chatgpt.com))
### **When will the buyer receive the car?**
Reports indicate that the buyer is expected to receive the vehicle in **2027**. ([The Times of India](https://timesofindia.indiatimes.com/world/us/ferraris-first-all-electric-car-sells-for-40-million-at-charity-auction-nearly-40-times-initial-estimate-of-1-1-million-buyer-wont-receive-it-until-2027/articleshow/133279287.cms?utm_source=chatgpt.com))
## **Source Credits**
Information source and resource owners: Ferrari, Ferrari Foundation, RM Sotheby’s, Reuters and cited automotive industry reports.
## **Image Credits**
Image sources are combined from AI-generated visuals and other platforms. If any owner wants to be mentioned or any content needs to be changed, please email us at **concerns@whatmatters.ae**.