06:09 AM EST, 11/25/2025 (MT Newswires) -- (Updates with attribution to Shell in the first, third, and fourth paragraphs and details regarding Ferrari in the fifth paragraph.)

Shell's (SHEL) Italian division said Tuesday that it has agreed to supply renewable energy to Ferrari (RACE) until the end of 2034 to help the carmaker reduce carbon emissions.

Financial terms were not disclosed.

Under the agreement, Shell's Italy division said it will supply a total of 650 gigawatt hours of renewable energy over 10 years, nearly half of the energy needs of Ferrari's Maranello plant near Modena.

Shell said it will also provide additional power and renewable energy certificates to cover Ferrari's entire needs in Italy.

The collaboration is part of an effort to reduce emissions by at least 90% by 2030, Ferrari chief industrial officer Davide Abate was quoted as saying in Shell's statement.