[India], November 29 (ANI): Alfa Romeo on Wednesday signed a multi-year technical and commercial partnership agreement with Swiss Sauber F1 Team for participation in the Formula 1 world championship beginning with the 2018 season.
The deal marks the return of the Italian car manufacturer, Alfa Romeo, to F1 after an absence of more than 30 years.
The multi-year partnership agreement will change the Swiss squad's name to Alfa Romeo Sauber F1 Team with the car bearing the Alfa Romeo logo and being equipped with 2018 Ferrari power units.
The scope of the agreement includes strategic, commercial and technological cooperation in all applicable areas of development, including access to engineering know-how and the expertise of Alfa Romeo technical staff.
This partnership will provide additional opportunities for the two organisations in both Formula 1 and the automotive sector in general.
On the occasion, Sergio Marchionne, CEO of FCA, said, "This agreement with the Sauber F1 Team is a significant step in the reshaping of the Alfa Romeo brand, which will return to Formula 1 after an absence of more than 30 years."
"The Alfa Romeo engineers and technicians, who have already demonstrated their capabilities with the newly-launched models, Giulia and Stelvio, will have the opportunity to make that experience available to the Sauber F1 Team," he added.
Meanwhile, Pascal Picci, Chairman of Sauber Holding AG, expressed, "We are very pleased to welcome Alfa Romeo to the Sauber F1 Team. Alfa Romeo has a long history of success in Grand Prix racing, and we are very proud that this internationally renowned company has chosen to work with us for its return to the pinnacle of motorsport."
Alfa Romeo is known around the world for its racing heritage and technological excellence.
Immediately upon its debut, Alfa Romeo won the first two drivers' world championships, in 1950 and 1951, with drivers Nino Farina and Juan Manuel Fangio. (ANI)