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The world’s “most useful automotive” was bought by Mercedes-Benz at an public sale in Germany earlier this month for $142 million.

A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe was bought for €135 million, or roughly $142 million, at an public sale on Could 5 on the Mercedes-Benz Museum in collaboration with the public sale home RM Sothebys, based on a press launch from the auto maker. The proceeds from the public sale will go towards funding a world scholarship.

“The 300 SLR Uhlenhaut Coupes are milestones in sports activities automotive growth and key historic components which have formed our model,” the auto maker mentioned within the assertion. “The choice to promote one among these two distinctive sports activities automobiles was taken with very sound reasoning — to profit a very good trigger.”

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“The proceeds from the public sale will fund a world scholarship program,” the press assertion learn. “With the ‘Mercedes-Benz Fund’ we want to encourage a brand new technology to observe in Rudolf Uhlenhaut’s modern footsteps and develop wonderful new applied sciences, significantly people who help the crucial aim of decarbonization and useful resource preservation,” Ola Kallenius, the CEO of the Mercedes-Benz Group AG mentioned within the assertion.

The worldwide scholarship program will assist to help “younger folks of their research, dedication and actions” with a view to transfer towards a “extra sustainable future,” based on the press launch. “We’re satisfied that entry to training in these areas might be essential in encountering the good challenges of our time and contribute to higher stability, prosperity and social cohesion.”

The Mercedes-Benz automotive that was bought is one among two “ultra-rare unique” 300 SLR Uhlenhaut Coupes. The second 300 SLR Coupe will keep within the museum and can “proceed to be displayed on the Mercedes-Benz Museum in Stuttgart,” based on the press launch.

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“As a world firm and as a luxurious model we bear a terrific degree of accountability in the direction of society,” Ranta Jungo Brungger, a member of the Board of Administration of the Mercedes-Benz Group AG for Integrity and Authorized Affairs, mentioned within the assertion. “The proceeds from the sale of the 300 SLR Uhlenhaut Coupe present us with a novel alternative to strengthen our dedication with a long-term flagship undertaking.”