off is pretty much standard fare these days, and the – VIN 001 – is no different. The automaker just sold off the first at Palm Beach for $1.1 million. GM isn’t keeping any of that money, though. It’s all going to a cause: the education nonprofit DonorsChoose.

Chevrolet tells us that the first was bought by none other than and the owner of 14-time NASCAR Cup Series champions Hendrick Motorsport. According to the , this will be the 122nd vehicle in the 73-year-old’s collection. Good for him.

“From electrified all-wheel drive to being the fastest Corvette ever made, is a true first-of-its-kind supercar. Before I even had a driver’s license, I fell in love with the Corvette and daydreamed of owning one. For people like me who have watched its evolution across seven decades and eight generations, this represents a new chapter,” . As a Corvette enthusiast, it’s a piece of history.

As I mentioned earlier, 100 percent of that $1.1 million is going to DonorsChoose. It’s a nonprofit created in 2000 with the goal of making it easier for people to provide resources to teachers. According to Chevy, the organization has fulfilled over two and a half million classroom projects by connecting donors directly with requests from educators – especially in low-income communities.

“The Corvette E-Ray is a special product for Chevrolet, and we are honored that the proceeds from the sale of will aid this organization in supporting students and teachers around the nation,” Steven Majoros, Chevrolet’s chief marketing officer, said in a statement.

The E-Ray – of course – is special since it’s not only powered by the tried and true 6.2-liter small block V8. It’s also got a front electric motor which makes it the first-ever all-wheel drive Corvette. The automaker says it produces a combined 655 horsepower, which is enough to rocket the thing from 0-60 in just 2.5 seconds. It starts at a bit under $103,000, so Hendrick will be paying quite a bit of a premium for the first car, but hey, if you’ve got the money, why not?

This E-Ray is now the third C8 Corvette to be auctioned off for charity by Chevrolet. It will join the first 2020 Corvette Stingray and the first in the record books. Chevy says that in total, these three vehicles have generated $9.1 million at auction.