Donation News

Ferrari Donates 1M EUR for Ukraine Aid

Ferrari is donating one million Euro for humanitarian aid in Ukraine, according to their statement on Tuesday.

“The funds will be channeled through the Emilia-Romagna Region that, in collaboration with the Red Cross and UNHCR, will fund international humanitarian projects supporting Ukraine as well as local initiatives focusing on the reception of refugees in the Italian region,” reads the official statement.

“Additionally, aid will go to the Association Chernobyl of Maranello, Fiorano, Formigine — ONLUS to provide for the needs of the Ukrainians who will be hosted in the area near the Company.

“Furthermore, given the ongoing situation Ferrari has taken the decision to suspend the production of vehicles for the Russian market until further notice. We continue to monitor the situation closely and will always respect all rules, regulations and sanctions.”

The suspension of sales in Russia is mostly symbolic – Ferrari sells between twenty and thirty cars in Russia most years, about a tenth of what they sell in Italy, their largest market. They’re among the last of the major automotive brands to suspend sales in Russia for their attacks on Ukraine.

“Ferrari stands alongside everyone in Ukraine affected by this ongoing humanitarian crisis”, Ferrari chief executive Benedetto Vigna said.

“While we hope for a rapid return to dialogue and a peaceful solution, we cannot remain indifferent to the suffering of everyone affected. Our thoughts and support go out to them. We are playing our small part alongside the institutions that are bringing immediate relief to this situation.”

One million Euro is equivalent to a little more than 33 million hryvnia, the currency of Ukraine. Through the Red Cross and the United Nations High Commission for Refugees (UNHCR), it will help some of the 2 million Ukrainian refugees who have already fled the country and the estimated 1.8 million who have been displaced from their homes.

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