Scuderia Ferrari and Banco Santander Back Together Again, With a New Multi-Year Agreement

Rhea-AI Summary

Ferrari N.V. (NYSE/MTA: RACE) has announced a renewed partnership with Banco Santander, which will resume as a Premium Partner for the next season. This collaboration, which initially existed from 2010 to 2017, will see Banco Santander's logo prominently displayed on Scuderia cars and drivers' race suits. The partnership emphasizes Ferrari's commitment to achieving carbon neutrality by 2030, with Banco Santander pledging support in this green transition, leveraging its expertise in renewable energy finance. Both companies express enthusiasm for the collaboration's potential impact on sustainable practices.

Positive

• Renewed partnership with Banco Santander as Premium Partner, enhancing brand visibility.
• Collaboration supports Ferrari's goal of carbon neutrality by 2030, aligning with sustainability trends.

Negative

• None.

Maranello, 21 December 2022 - Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) is pleased to announce that, as from next season, Banco Santander will be a team Premium Partner, reviving a collaboration that it previously enjoyed with the Maranello team from 2010 to 2017.

The partnership, covering multiple years, will see the bank’s logo back on the Scuderia cars, on the race suits of drivers, Charles Leclerc and Carlos Sainz, on the caps and will also be present in the Ferrari Driver Academy activities. Banco Santander will also feature in Ferrari Competizioni GT, with its logo on the official cars participating in the FIA World Endurance Championship and on the upcoming Le Mans Hypercar.

In 2020, Banco Santander was the world’s leading bank in renewable energy finance and through its investment bank, Santander CIB, it has dedicated teams that specialises in advising companies in transitioning to a zero emissions economy. Banco Santander will therefore support the Scuderia on its own path to being carbon neutral by 2030.

John Elkann, Chairman, Ferrari:
“It’s an honour to team up again with a global financial institution like Santander, which is committed to responsible banking and has shown leadership in renewable energy finance and ESG advisory services all around the world. We look forward partnering with them to deliver our key objective of becoming carbon neutral by 2030. We believe Formula One with its innovations and technological developments will benefit our industry and ultimately society as a whole.”

Ana Botín, Executive Chairman, Banco Santander:
“We are very excited to work with Ferrari again, and support them in the green transition. Santander is fully committed to tackling climate change, and as Europe’s leading provider of auto finance, we are determined to help the auto industry as it goes green. Our new partnership with Ferrari will accelerate our common progress.”

Attachment

• Press_Release_Santander_ENG_21.12.2021

FAQ

What is the significance of Ferrari's partnership with Banco Santander?

The partnership signifies a renewed collaboration aimed at enhancing brand visibility while supporting Ferrari's sustainability goals.

How will the Banco Santander branding appear in F1 with Ferrari?

Banco Santander's logo will be displayed on the Scuderia cars, drivers' race suits, caps, and during Ferrari Driver Academy activities.

What are Ferrari's carbon neutrality goals?

Ferrari aims to achieve carbon neutrality by 2030, supported by Banco Santander's expertise in renewable energy finance.

When did the previous partnership between Ferrari and Banco Santander take place?

The previous partnership between Ferrari and Banco Santander lasted from 2010 to 2017.

What role does Banco Santander play in the automotive industry?

Banco Santander is a leading provider of auto finance in Europe and is committed to aiding the auto industry's transition to green practices.