Tata, the Indian company which produces the world's cheapest car, will sponsor Ferrari from next season.
The Nano was made to be "smaller, lighter, cheaper"
"For the first time an Indian brand will appear on a Ferrari," Ferrari chief Luca di Montezemolo said. "It's a historic event."
Tata and Ferrari's parent company Fiat already have a joint venture to produce cars in India.
Tata is most famous for producing the Nano which, at £1,325, is believed to be the cheapest car in the world.
The sponsorship deal comes at a time when Formula One has announced a series of cutbacks to ease financial pressures, which were highlighted by Honda pulling out from the sport earlier in December.
From next season, savings equating to at least 30% of total budgets will be made on engines, training and staff numbers. Further cuts will then be made for the 2010 season, including an end to refuelling in races.
1 comment:
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