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With the proceeds from the sale of this ultra-rare sports car, Mercedes plans to establish the “Mercedes-Benz Fund”. The fund will be used to provide resources and scholarships to young people interested in the fields of environmental science and decarbonization. According to Renata Jungo Brüngger, a member of the board of directors of Mercedes, the automaker believes that it “bears a great responsibility towards society” and, as part of this responsibility, it wants to give back by supporting those who have not could otherwise afford this kind of education.

What exactly will the scholarship fund be used for? Mercedes doesn’t fully elaborate, but he does mention plans to help young people with their studies as well as boost their commitment to actions that make the planet a better place. Given that cars and trucks account for almost a fifth of all carbon dioxide emissions in the United States (via UCSUSA.org), it’s certainly a good idea to offset some of that by helping students reduce the carbon footprint left by brands like Mercedes.

The all-time record sale was achieved at an auction held at the Mercedes-Benz Museum in Stuttgart, Germany, with the help of RM Sotheby’s, a popular car auction house. . Only a select few were invited to attend the auction, including car and art collectors as well as the most prestigious Mercedes-Benz customers. Let’s be real – this car was never going to go cheap, and as such the sale garnered an audience with big wallets. Prior to the sale, the Mercedes-Benz 300 SLR Uhlenhaut Coupé was safely stored alongside its sibling in the private collection of Mercedes-Benz Classic as one of 1,100 vehicles the company wishes to keep for posterity.

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