Ferrari [NYSE:RACE] on Wednesday announced plans to build a 500th example of its LaFerrari flagship to help raise funds for those affected by the devastating earthquake that struck central Italy on August 24.
The 500th LaFerrari represents one more than the originally planned run of 499 cars.
It will be sold at auction and is likely to raise well over $5 million considering a—slightly—used LaFerrari was sold in mid-August during the 2016 Monterey Car Week for $5,170,000.
This isn’t the first time Ferrari has announced an additional example of one of its special series cars to help raise funds for charity. Some readers will recall Ferrari donated a 400th example of the Enzo to Pope John Paul II back in 2006, which the Pontiff later auctioned off.
Ferrari also auctioned off a number of items in 2012 including a 599XX Evo in support of those affected by two earthquakes that struck Italy’s Emiglia Romagna region that year.
Like all LaFerraris, peak power of 950 horses in this 500th example will come from a hybrid system consisting of a 6.3-liter V-12, a pair of electric motors and a 7-speed dual-clutch transmission. One of the motors helps the V-12 power the rear wheels and recovers energy under braking, while the other spends most of its time as a generator, drawing its power from the V-12 and ensuring the batteries have a minimum level of charge.