Ferrari's First All-Electric Car Sells for $40 Million

Ferrari’s first all-electric car, the "Luce", has been sold for a record price at an auction in the United States.

Operativ Media reports that the car fetched $40 million at a Sotheby's auction.

Dubbed "Chassis 0", this vehicle is the first production version of the Ferrari Luce model.

Ferrari stated that proceeds from the sale will be donated to charity. The car became the most expensive new vehicle ever sold at auction.

Ferrari unveiled its first electric car on May 26.

Following the presentation, the company's shares dropped by more than 8 percent. Former company president Luca di Montezemolo said that an electric vehicle could damage the established image of the Ferrari brand.