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400 views December 17, 2008

Dec.17 (GMM) Despite the global financial crisis, Ferrari has inked a new sponsorship deal with a car manufacturer.

The famous Italian formula one team will add Tata, an Indian multinational, to its roster of backers in 2009, president Luca di Montezemolo told Italian media on Wednesday.

"For the first time an Indian brand will appear on the Ferrari," he said. "It's historic."

A Ferrari spokesman confirmed the deal, with the details set to be announced in due course.

Tata was associated with the Indian driver Narain Karthikeyan's formula one career, first with Jordan in 2005 and subsequently at Williams.