Ferrari announced that it has reached a multi-year technical agreement with Haas F1.

The deal will mean that Ferrari will supply the power unit, transmission and technical support to the American based Haas F1 team.

Ferrari Team Principal Marco Mattiacci made the announcement earlier today.

“We’re delighted to announce this important strategic partnership with Haas F1 Team and to welcome an American player as a new entrant in Formula 1”, said Mattiacci.

““A few months ago we joined forces with Gene Haas on a commercial level and this is the natural next step of our growing relationship.”

Mattiacci added that the deal could extend to beyond a supply arrangement, given Ferrari’s commercial interests in the United States.

‘While our objective is to reinforce our power unit development programme for all our customer teams , we believe this new partnership has the potential to evolve beyond the traditional role of supplying our power unit and all related technical services. United States continues to be one of the most important markets for Ferrari and it offers many interesting opportunities. We look forward to supporting Haas F1 Team in its efforts to become a competitive player on the Formula 1 grid.”

Gene Haas, the owner of Haas F1 hailed the agreement and hopes that the agreement will bring them to the front of the F1 grid.

“There is no team in Formula One more accomplished than Scuderia Ferrari, and no team with more history,” said Haas

“They’ve been a part of Formula One from the beginning, and now they’ll be a part of Haas F1 Team’s beginning. Formula One is the pinnacle of motorsports. It showcases the latest technology and is the most competitive form of racing in the world. Aligning Haas F1 Team with such a tenured and successful company in Scuderia Ferrari provides our team with the greatest opportunity for success in 2016 and beyond.”

Photo credit: Scuderia Ferrari Formula 1