The official website of the Italian automaker says that Ferrari is donating 1m euros to support Ukrainians in need.
The Red Cross and the United Nations will manage this money to fund humanitarian projects in support of Ukraine and initiatives to help Ukrainian refugees in Italian regions.
The "Chornobyl" Association will also help host refugees in Maranello, Fiorano, and Formigine.
Moreover, the official reports state that Ferrari has decided to stop the production of cars for the Russian market.
"Ferrari supports all Ukrainians who have been affected by this humanitarian crisis," Ferrari CEO Benedetto Vinha said.
"Even though we are hoping for a quick resolution of this situation and a peaceful decision, we cannot stay ignorant to all the victims. Our thoughts and support are with them. We play our small role alongside the official establishments that help solve this horrible situation," Vinha mentioned.