Sunday, April 14, 2024

Ferrari Donates €1M To Ukraine, Lamborghini Halts Business In Russia

Ferrari is also suspending vehicle production for the Russian market.

This week, automakers continued to react to Russia’s invasion of Ukraine last month. Both Lamborghini and Ferrari have made statements about the ongoing violence, announcing changes to their corporate operations as well as donations to charity that aid Ukrainians.

On Twitter, Lamborghini said that it is arranging an undetermined donation to UN Refugee Aid, which has been working in Ukraine since 2014. The supercar company also announced that it would halt its business dealings with Russia. Lamborghini is owned by the Volkswagen Group, which also owns Porsche, and the two companies have donated €1 million ($1.1 million at today’s currency rate) to UN Refugee Aid.

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A similar move was done by Ferrari. It announced a €1 million donation to help Ukrainians in need, with funds going to worldwide humanitarian programmes. The manufacturer will also invest in local initiatives to support refugees in the Italian region, going so far as to donate aid to the Association Chernobyl of Maranello, Fiorano, Formigine, which will assist refugees living near the company.

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“While we hope for a speedy return to talks and a peaceful conclusion, we cannot remain oblivious to the anguish of everyone affected,” Ferrari CEO Benedetto Vigna said. Our thoughts and prayers are with them.” Ferrari has also declared that vehicle production for the Russian market would be halted.

Ferrari and Lamborghini are just two of many automakers attempting to help individuals affected by the war. Nissan and Stellantis have also pledged a €1 million donation to aid Ukrainian refugees fleeing the war. However, as the international community condemns the violence, automakers have gone even further by stopping operations and sales in Russia.

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Toyota said that it would close its manufacturing in St. Petersburg, which produces the Camry and RAV4 for the Russian market. Honda, GM, and Mazda have all ceased exports to Russia, while Volvo and Jaguar Land Rover have joined Ford in stopping business in the country. The violence is also exacerbating the industry’s supply chain problems.

Sources: Ferrari, Lamborghini / Twitter

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