Sports Car Supporting Rose-Hulman Fetches $2.39M

Posted: Updated:
The hybrid is the only one of its kind. The hybrid is the only one of its kind.
TERRE HAUTE -

The auction proceeds from a rare car will benefit Rose-Hulman Institute of Technology. The $2.39 million sale of a McLaren P1 Hypercar that was owned by an RHIT alumnus will endow a faculty chair at the Terre Haute school. The hybrid sports car is considered a pioneering machine.

The Alfred R. Schmidt Chair for Excellence in Teaching will be named after a former faculty member who taught for 46 years at the school. Rose-Hulman President Jim Conwell says "we're delighted with the amount the car brought at auction and the unique way this donor has chosen to support his alma mater. The impact of this gift on teaching and learning cannot be overstated."

Florida-based Gooding & Co. President David Gooding says the final price is a world record for a McLaren P1. The donor, who wishes to remain anonymous, said "my original intent was to have a one-of-its-kind car designed and created so that it could bring a record price to support a unique higher education institution that values quality teaching and instruction, and has faculty that love to share that knowledge with peers and others. Almost as important as the car's auction price, and the donation, is the notoriety that Rose-Hulman has received on a national stage in the weeks leading up to the sale. I want people to recognize Rose-Hulman for the great trailblazing institution that it is."

The 2015 McLaren P1 can reach speeds of 200 mph.

  • Perspectives

    • Is Your Enterprise Ready For Digital Transformation?

      We are living in a historic era with accelerating market and technology disruptions that impact our lives and rapidly change how we do business. Cloud computing, advanced analytics, and digital technologies have the potential to transform how every company interacts with its customer. So, how do businesses keep up and (better yet) stay ahead? Enter the digital CIO. A new breed of CIO is emerging to lead companies through technology changes happening at record pace.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Big Military Diesel Engine Contract Goes to Cummins

      Columbus-based Cummins Inc. has secured a more than quarter-billion dollar U.S. Department of Defense contract. The deal involves new and remanufactured engines for the U.S. Army. The DOD says locations of where the work will be performed will be determined with each order. The contract is for procurement of new commercial, remanufactured and remanufactured conversion V903 Cummins series 600 and 675 horsepower diesel engines. Cummins bills itself as...

    • 'Best Places' in Indiana Reaches Record

      The Indiana Chamber of Commerce has released the 2018 list of Best Places to Work in Indiana. A record 125 companies are being honored this year and more than 50 are first-timers or returning after a year or more off the list. Employers in over two dozen communities are represented and the chamber will unveil the rankings of the Best Places honorees during a May 3 awards dinner at the Indiana Convention Center in downtown Indianapolis.

    • IDOE Names 'Four Star Schools'

      The Indiana Department of Education has released its list of Four Star Schools for the 2016-2017 academic year. The designation, which has been awarded for the past 30 years, aims to recognize great schools throughout the state. 

    • Cummins to Design Combat Engines That Elude the Enemy

      The monstrous, larger-than-life military tanks of tomorrow could be powered by Hoosier ingenuity. A recent $47 million defense contract delivers marching orders for Columbus-based Cummins Inc.: develop the next-generation engine to power U.S. combat vehicles, and it must be stronger, but smaller, and elusive to enemies’ efforts to spot it. 

    • On-Air

      Find out when and where you can watch and listen to our reports.