The Italian Olympic Committee has teamed up with Ferrari in order to develop more aerodynamical materials and better technical results in preparation for this year’s Beijing Olympic Games. The partnership surrounds the development for both winter and summer sports including materials for bobsled, luge, skeleton, speedskating, sailing, canoe and Paralympic skiing events.

The agreement, which was announced on Monday, covers the period ranging from this year's Beijing Games to the 2010 Winter Olympics in Vancouver and it enables athletes to use Ferrari's wind tunnels, reports the Associated Press.

"There are three things we have in common: passion, the ability to work as a team and the Italian flag," Ferrari president Luca Cordero di Montezemolo said at the signing of the deal. "If there is even one-thousandth of Ferrari in Italian victories, we'll be honored."