"It's historic" is how Ferrari president Luca di Montezemolo commented to the Italian media , describing the sponsorship deal between Tata Motors and Ferrari. "For the first time an Indian brand will appear on the Ferrari,'' he said.
The exact details about the same have not been announced.
With this alliance, Tata Group joins the big names such as Shell, Alice (an Italian internet company), Acer Computers, AMD microprocessors, drinks giant Martini and Dubai-based finance and investment firm Mubadala who are the main backers of the Ferrari F1 team in 2009.
Recently, the economic downturn coupled with increasing cost in Formula 1 sports since the last few years made Honda withdraw from the F1 race.