Ferrari and HP sign a multi-year sponsorship agreement for their Formula One team.
MILAN, April 24 (Reuters) — Ferrari (RACE.MI), opens new tab, has inked a multi-year agreement with HP (HPQ.N), opens new tab, making the world’s second-largest PC vendor the new “title sponsor” of Ferrari’s motor racing team, including Formula One, the two businesses announced on Wednesday.
According to the arrangement, which did not include financial details, the HP emblem will debut on Ferrari’s Formula One cars ahead of the Miami Grand Prix on May 3-5, when the team will compete as Scuderia Ferrari HP, the businesses stated in a joint statement.
The partnership’s debut will be commemorated by a special edition Ferrari car livery made particularly for the Miami Grand Prix.
Ferrari had not had a title sponsor whose name is synonymous with that of its racing team since its most recent agreement of this kind, with Philip Morris’ (PM.N), opens new tab Mission Winnow, ended at the end of the 2021 season.
As part of the agreement, Ferrari will use HP technology and services, such as adaptable PCs and devices, collaboration tools and services, and printing capabilities.
“The integration of HP’s high-performance products and services … will enable Scuderia Ferrari HP and the other racing teams of the Prancing Horse to turbocharge training precision and optimise strategic decision-making, on and off the track,” according to the announcement.
Ferrari and HP stated that they were dedicated to driving sustainable innovation and will collaborate to develop educational programmes within their teams and communities.
