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Tata to sponsor Ferrari
18 December 2008
Tata, the Indian firm that owns Jaguar and Land Rover, has agreed to sponsor the Ferrari F1 team from next season.
"For the first time an Indian brand will appear on a Ferrari," said Ferrari chief Luca di Montezemolo.
There’s no official word on how much money the Indian conglomerate will invest in Ferrari.
Ratan Tata sits on the Fiat board, which is where the Ferrari deal has stemmed from. Tata and Fiat already have a joint venture to produce small, cheap cars in India.
The news comes as Tata-owned Jaguar and Land Rover continues to lobby the UK government for a £1bn tax-payer bailout.
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