Ferrari's First Electric Car Fetches $40M at Monterey Charity Auction

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Ferrari's debut all-electric vehicle, a bespoke model called the Luce 'Chassis 0,' sold for $40 million at a charity auction held in Monterey. The final price was nearly 40 times the car's initial estimate of $1.1 million, setting a new record for the most expensive new car ever sold at auction. The identity of the buyer has not been disclosed. Despite the landmark sale, the new owner will have to wait until 2027 to take delivery of the vehicle.

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