Ferrari sign first Chinese sponsor
Ferrari’s Formula One team has signed a four-year deal with Weichai Power. Somewhat surprisingly given Ferrari 20+ year history in China and the importance of the Chinese market, it is Ferrari’s first ever Chinese sponsor. Weichai, as I’m sure you know, produces mechanical components for heavy-duty vehicles, including buses.
Weichai Power’s parent company, the Weichai Group, already has Italian links: the company bought a majority stake in luxury yacht manufacturer Ferretti Group last year.