Ferrari's First All-Electric Car Sells for $40m in Charity Auction

Ferrari's first ever all-electric car has fetched $40m (£29.5m) in a charity sale, setting a record for a new car sold at auction. The RM Sotheby's auction in California raised more than 35 times the usual price of a Ferrari Luce. The auction house said the "first production chassis" features a unique finish and bespoke parts. The Luce, the brainchild of iPhone designer Sir Jony Ive, faced a backlash when it was launched in May as some commentators said it strayed from the marque's traditional designs and lost part of the brand's identity by being battery-powered and having five seats. Sotheby's said all proceeds of the sale will be donated to the Ferrari Foundation's educational programmes. Sotheby's did not name the buyer of the custom Luce. The BBC has contacted the auction house and Ferrari for more information. The unveiling of the Luce was seen as one of the biggest launches of a new car in recent years. It marked the prancing horse's first entry into the electric vehicle (EV) market - a sector dominated by Elon Musk's Tesla and China's carmakers.

The auction result is a significant boost for Ferrari as it ventures into the EV market.