SCUDERIA FERRARI reached its first sponsorship agreement with a Chinese brand this week when it signed up Weichai Power, a leading automobile and equipment manufacturer in China.
The agreement will last four years and will expire at the end of the 2016 Formula One season.
Weichai Power, part of the Weichai Group, is the leading manufacturer of diesel engines in China, where Ferrari has had a presence for over twenty years and remains of the main markets for “Prancing Horse” road cars.
In September, the Italian car maker reported record sales and profits for the first six months of 2012, enjoying strong sales growth in new markets in Asia – China in particular, and in Russia, the Middle East, and South America.
Ferrari’s main sponsors for the 2013 season are: Philip Morris International, Fiat, Santander, Shell, Kaspersky Lab, Weichai Power, Hublot and TNT Energy Drink.
Hublot is also scheduled to announce an expanded, long-term renewal with Ferrari today, becoming an official sponsor of the team.
By Matthew Glendinning
Follow Matthew on Twitter: @mattglen