Ferrari’s first production electric vehicle, the Luce, has fetched $40m at auction, making it the highest-value sale at an RM Sotheby’s event in Monterey, California.

The 2026 Ferrari Luce “Tailor Made” was sold over the weekend as the first production chassis of the company’s new electric vehicle programme. Ferrari said the proceeds would support future educational initiatives through the Ferrari Foundation.

The vehicle, built to United States specifications, is expected to be delivered to its unnamed buyer in the first quarter of 2027. It will also be returned to Ferrari’s headquarters in Maranello, Italy before delivery.

The auctioned model features a bespoke Madreperla Semi-Gloss exterior and a specially customised interior developed through Ferrari’s Tailor Made programme. It also carries a dedicated plaque identifying it as “Chassis 0.”

The Luce was designed by former Apple design chief Sir Jony Ive, alongside designer Marc Newson and their LoveFrom collective.

Ferrari says the electric car will offer a driving range of about 329 miles, accelerate from 0 to 100km/h in 2.5 seconds and produce up to 1,050 horsepower. It is equipped with a 122kWh battery, four electric motors and a dedicated electric vehicle platform.

While the Luce is expected to have a starting price of €550,000, its auction value was more than 70 times that figure.

The model has attracted criticism from some Ferrari enthusiasts and industry figures following its unveiling. Former Ferrari chairman Luca di Montezemolo previously warned that the company’s move into electric vehicles could threaten the heritage of the iconic brand.

The $40m sale surpassed that of a 1996 McLaren F1 GTR, which sold for £25.5m and became the second-highest-priced vehicle at the auction.