Ferrari's First Electric Car Fetches Record $40 Million at Charity Auction

Ferrari just set a new world record by selling the first example of its all-electric supercar, the Lotchi, for $40 million at a charity auction. The sale took place during Monterey Car Week in partnership with RM Sotheby's, making it the most expensive new car ever sold at auction — surpassing the previous record of $26 million.

The Record-Breaking Deal

The auctioned example, dubbed 'Chassis Zero', is a one-off model designed specifically by Ferrari's Tailor Made unit and design center. The company confirmed the entire proceeds will fund educational projects supporting youth in the United States and beyond through the Ferrari Foundation.

The gap is staggering. While the production version of the Lotchi starts at around €550,000 ($638,400), this unique specimen reached $40 million. That massive difference highlights how luxury brands transform scarcity and personalization into investment value that far exceeds a conventional car's price.

Lotchi Enters the Electric Era

The deal arrives as Ferrari builds momentum around the Lotchi, unveiled in May as the first fully electric model to wear the Prancing Horse badge. The luxury sports car seats five passengers across four doors — an entirely new layout for the legendary Italian marque.

Yet the launch hasn't been without controversy. While many view the Lotchi as a necessary leap forward for Ferrari's future, some loyal customers remain skeptical about going fully electric. With this record price, though, the market seems to be sending a clear message about the worth of that transition.