Ferrari [Images] have bucked the global economic crisis squeezing Formula One by agreeing a sponsorship deal with carmaker Tata.
"For the first time an Indian brand will appear on the Ferrari," president Luca di Montezemolo told Italian media. "It's historic."
A Ferrari spokesman confirmed a deal had been reached and said the details and duration would be announced shortly.
Tata and Ferrari's parent company Fiat have a joint venture in Maharashtra to produce cars.
Formula One approved a package of cost-cutting measures last week to help the sport after the economic crisis led to Honda's withdrawal.
© Copyright 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
|