The Ferrari emblem is seen on the firm’s headquarters in Maranello, Italy, June 8, 2021. REUTERS/Guglielmo Mangiapane
ROME, March 22 (Reuters) – Ferrari (RACE.MI) has secured as much as 106 million euros ($117 million) in public funds for investments in expertise and manufacturing in its residence Emilia-Romagna area, the luxurious sports activities carmaker mentioned on Tuesday.
The funds, which can create 250 jobs, are a part of a memorandum of understanding (MoU) signed with Italy’s Economic system Ministry, state funding company Invitalia, and the regional authorities of Emilia-Romagna.
The funding can be invested in industrial tasks, analysis and growth for brand spanking new applied sciences geared toward growing digitalisation and lowering environmental impression, Ferrari mentioned in a press release.
The plan will considerably profit the territory across the cities of Maranello and Modena, it added.
“We consider in our territory and are dedicated to enhancing it by way of tasks that carry tangible advantages from a social and environmental perspective, in addition to strengthening its competitiveness,” Chief Govt Benedetto Vigna mentioned within the assertion.($1 = 0.9090 euros)
Reporting by Giulia Segreti
Modifying by Keith Weir
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