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Ferrari’s Formula One car

Our Bureau

Mumbai, Dec. 18 The Formula One car of Italian auto giant Ferrari will for the first time feature the logo of an Indian corporate- the Tatas.

The Tata branding would appear for the first time on the scarlet Ferraris of Felippe Massa and Kimi Raikkonen, who would fight it out for world championship honours in 2009

“Building on our existing long-term relationship of over 3 years, Tata Consultancy Services has entered into an agreement with Ferrari for an enhanced technology and marketing partnership. As part of the deal, the Tata logo will be displayed on Ferrari FI car for the 2009 Formula One season. We will announce more details shortly,” TCS said in a communication, here on Thursday

TCS had earlier inked a deal with the Ferrari in 2005 to provide software solutions beginning 2007. But the Ferrari cars did not sport the TCS logo.

“It’s historic. For the first time, an Indian brand will appear on the Ferrari,” the Ferrari President, Mr Luca di Montezemolo, was reported as telling the Italian media.

Analysts say that Ferrari has bucked the global economic crisis squeezing Formula One by agreeing on a sponsorship deal with the Tatas. Last week, Formula One approved a package of cost-cutting measures to help the sport after the economic crisis led to Honda’s withdrawal.

Reacting to the development, the TCS scrip hit an intra day high of Rs 513.95, before settling at Rs 510.15, 6.93 per cent higher than the previous day’s close on the Bombay Stock Exchange.

For the Tata group, this will be the second stint on the fast tracks of F1 after Tata Motors’ association in 2005 with Narain Karthikeyan who drove for the Jordan team. This, however, is the first time the logo of an Indian IT outsourcer would be displayed in such a high-profile motor sport. Having the Tata logo displayed on the Ferrari F1 car is likely to have rub-off benefits for other Tata group firms

More Stories on : Sports | Software | Brands | Tata Consultancy Services Ltd

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