MILAN (Reuters) -Italian luxury car maker Ferrari and its parent company Exor, the holding vehicle of the Agnelli family, are joining forces with with Jony Ive, the creative mind behind many of Apple's iconic products, and fellow designer Marc Newson. The duo - who together developed Apple Watch - belong to the LoveFrom creative collective of designers, architects writers, engineers and artists based in London and California.
Speed has always been paramount for supercar makers, and now they're in the race of their lives to go electric before climate policy cuts their combustion engines. That's why the likes of Ferrari and Mercedes-Benz are turning to startups such as Oxford-based electric motor company YASA for expertise and technology to solve the unique challenges of electrifying the highest-performance vehicles. Batteries are immensely heavy and electric motors overheat if driven too hard - big problems for a niche industry that charges hundreds of thousands of dollars for lightweight cars capable of screaming round 10 laps of a track at full throttle.
Maranello (Italy), September 20, 2021 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the fourth tranche of the common share buyback program announced on March 11, 2021 (“Fourth Tranche”), additional common shares - reported in aggregate form, on a daily basis - on the Italian Stock Exchange (MTA) and on the New York Stock Exchange (NYSE) as follows: MTANYSETotalTradingNumber of common shares purchasedAverage price per shareConsideration