SHARE
COPY LINK

CARS

Sebastain Vettel to drive F1 Ferrari through Milan as part of festival

The German four-time World Champion will drive his Ferrari through the heart of the city as part of the F1 Milan Festival.

Sebastain Vettel to drive F1 Ferrari through Milan as part of festival
Sebastian Vettel and his Ferrari will be driving around Milan's city centre this week. Photo: Vladimir Simicek/AFP.

The celebration of Formula 1 in Milan will take place from from Wednesday August 29th to Saturday September 1st and is scheduled to coincide with the weekend's Grand Prix in the northern Italian circuit of Monza. 

“The F1 Park will offer a live car run in an unprecedented city circuit, giving fans a unique opportunity to experience the thrill of seeing modern F1 cars up close on the streets of Milan,” reads a statement about the event in Milan released by Formula 1. 

The celebration of racing cars will take place in the Darsena area of Milan amidst the ancient yet recently-restored Navigli quarter.

The Navigli quarter takes its name from the two canals that run through it: the Naviglio Pavese and the Naviglio Grande, partly designed by Leonardo Da Vinci.

The F1 Live racing, in which visitors will be able to see the Formula 1 drivers and their cars racing through the heart of Italy's fashion and business capital Milan, will take place on Wednesday August 29th starting at 4.25pm in the Piazza XXIV Maggio (details here).

Sebastian Vettel, Kimi Räikkönen and other drivers will race their cars around the city centre's streets for the first time.

Classic racing cars will also be on parade on Wednesday afternoon. From Thursday August 30th to Saturday September 1st events are scheduled from 6pm to 11pm. 

Besides exhibition racing by some of the sport's leading drivers, the F1 event in Milan  – the city home to motor racing brands such as Alfa Romeo and Pirelli – will feature “events, music and iconic installations.” The F1 House, a hub on the chosen grounds, will also host “DJs and personalities from the world of sport, music and entertainment,” every evening.

The event is open to the public and free entry, according to a press release by Formula 1. Milan is the fourth city to welcome the racing car festival after London, Shanghai and Marseille. 

READ MORE: Steve McQueen's family sues Ferrari over use of actor's image

 

ECONOMY

Fiat promises no job cuts in return for state aid: report

Fiat Chrysler has agreed to the conditions laid down for a state-backed €6.3 billion euro loan, including a promise not to relocate or cut jobs, Italy's Sole 24 Ore daily said Sunday.

Fiat promises no job cuts in return for state aid: report
Robots manufactured by Comau are pictured on the assembly line of the Fiat 500 BEV Battery Electric Vehicle. Photo: AFP

The state auditor has approved the guarantee, but it still needs to be signed off on by the economy ministry, the paper said.

The request for state support on such a large loan has proved controversial, particularly with the company's corporate headquarters in Amsterdam.

FCA — which directly employs close to 55,000 people in Italy — has said the loan is essential to help the group's Italy operations and the whole industry to weather the crisis triggered by the coronavirus pandemic.

The company will commit to investing 5.2 billion euro in Italy on new and existing projects, and up to 1.2 billion euro on its 1,400 or so foreign suppliers, said Sole 24 Ore, Italy's financial newspaper.

 

FCA will also pledge not to cut any jobs before 2023.

The loan will be funded by Italy's largest commercial bank Intesa San Paolo and 80 percent guaranteed by export credit agency SACE, the daily said.

The government has said FCA would face sanctions if it failed to stick to the conditions laid down for loan. Sole 24 Ore said the fine for breaking the agreement could be in the region of 500 million euros.

SHOW COMMENTS