In a spectacular deal that would showcase an Indian brand on the Ferrari, the Tatas have been chosen as the new sponsor of Ferrari’s 2009 Formula 1 racing cars.
The new development is expected to help in exposing the Tata brand to the world. Industry observers feels that the Indian automotive company’s association with a player no less than a Ferrari would bring in a world of good.
It may be recalled that there were rumours that Tata had been working on creating a high-end dealer network for Ferrari. Tata Group and Fiat SPA, which owns Ferrari, have a joint venture in India already creating engines and cars. While Fiat supplies technology to the Tata Motors, which provides marketing and distribution support to Fiat. Tata Motors had also recently sponsored the Ferrari Magic India Discovery ride too.
According to a top Ferrari official, the deal in this regard has been confirmed, though details and duration are being worked out.
Meanwhile, reports said that it would be Tata group software major Tata Consultancy Services (TCS), that would be the sponsor. TCS is said to have come out with a statement that the company had entered into an agreement with Ferrari for an enhanced technology and marketing partnership. TCS has been a technology partner of Ferrari at the Formula One since 2005 and has an agreement to provide software for Ferrari’s Formula One cars. Some of the other big names that sponsor Ferrari include Shell, Alice, Acer, AMD and Martini.
The Ferrari deal for the Tatas comes at a time when the F1scene is seeing major financial crunch. Formula One had only recently announced a series of cutbacks to ease financial pressures. To add to the woes on the track, Honda had during the beginning of the month announced that it was pulling out of the Formula One scene.