Ferrari's inaugural EV sells for $40m

Ferrari's first all-electric car, the Luce, sold for a record $40 million at a Sotheby's charity auction, significantly exceeding its usual value. The bespoke vehicle, designed by Sir Jony Ive, features a unique finish and custom parts, with all proceeds donated to the Ferrari Foundation’s educational programs. Despite mixed reactions and criticism from some officials and former executives, the auction highlighted Ferrari’s entry into the electric vehicle market.

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