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My initial contact with this image was via Shorpy. A reverse image search provided some background.
The car was designed by Raymond Loewy. Loewy is known in the automotive world mostly for his work with Studebaker. In 1954 he teamed up with Ferrari to do a design study for the Ferrari Europa. The car was designed in South Bend, Indiana, and a 1/4 scale model was sent to Boano to build the car.
When Pinnifarina got wind of the project he complained to Enzo Ferrari about the relationship with Loewy. Ferrari decided it was more important to maintain his relationship with Pinnifarina than to proceed with the Loewy designed car.
Loewy did not want to give up on the car. He purchased a Jaguar XK140 and stripped it to the chassis. Minor changes were made to put the car together on the Jaguar chassis and Loewy took it to Paris for display. It did not attract much attention.
Lowey had a residence in Paris and used the car there before shipping home to New York in 1956. In 1957 he was persuaded to part with the car and sold it to Archie Moore, the light heavyweight boxing champion.
Additional images and information available here.