Ferrari's Luce EV fetches $40M at charity auction, setting a new car auction record

A charity auction in California saw Ferrari's first electric car, the Luce, fetch $40 million—setting the record for a new car sold at auction and roughly 35 times its usual price—with proceeds going to the Ferrari Foundation's educational programmes. The special white-edition EV, designed with Sir Jony Ive, was launched amid mixed reactions to Ferrari's EV push as it competes with Tesla and Chinese makers; the buyer was not disclosed.