MUMBAI: In an ambitious global branding move, the Tata brand name will figure on Formula 1, the world?s most-famed motorsport, following a sponsorship deal signed with the Indian automobile giant, international reports say.
?For the first time an Indian brand will appear on the Ferrari,? president Luca di Montezemolo has been reported in a section of the Italian media. ?It?s historic.? A Ferrari spokesman is reported to have confirmed the deal although details and duration are being worked out. Tata officials were unavailable to comment on the deal.
?Formula 1 is the pinnacle of premier automotive capability and motorsports in the world and for Tatas to be present on the Ferrari is massive,? said Times Zigwheels editor-in-chief Adil Jal Darukhanawala. Incidentally, Ferrari has been on the top slot since F1 began in 1950. ?Its success rate is compared to none,? sources said.
Experts feel the move is one of the most cost-effective ways to get the message across and would ensure the highest brand visibility. Sources also say that the move signals the growing togetherness of the JV partnership between Tatas and Fiat, signed in December 2005.
While Fiat has been supporting the Tatas with technology, Tatas provides marketing and distribution support to Fiat. Tata Motors had recently supported the Ferrari Magic India Discovery ride too. The other big sponsors for Ferrari include Shell, Alice, Acer, AMD micro processors and Martini.
A world-wide economic crisis and increasing costs in Formula 1 sports over the last few years forced Honda to withdraw from the race. The Formula One Teams Association (FOTA) met recently to cut costs substantially for 2009.
Teams such as Ferrari and McLaren Mercedes reportedly spend $200 million annually to spruce up their technology for their advanced race cars.
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