The Marussia F1 team announced their new engine partnership with Scuderia Ferrari on Tuesday.

The deal will see the Marussia team running the 1.6l turbo charged engines from Ferrari for the 2014 Formula 1 season. The deal also includes, together with the engine, the gearbox, the Energy Recovery System (ERS) and all other additional components.

The full statement from the CEO of the Marussia F1 team, Andy Webb, is included below:

“The Marussia F1 Team is delighted to be entering into a technical partnership with Scuderia Ferrari for the supply of a full powertrain from 2014. The importance of this development to our Team cannot be overstated. Not only will we benefit from a customer supply from the most successful engine manufacturer in Formula One’s history, but this also provides further confirmation, if it were needed, of our commitment to the sport and determination to maintain our progression towards our long-term ambitions. The new powertrain regulations being introduced next year represent the most substantial engine development within the sport since the introduction of the V8 formula and are all the more significant for the increased contribution of the Energy Recovery System. We look forward to working with Scuderia Ferrari during this exciting new era of Formula One competition. We would also like to take this opportunity to thank Cosworth, with whom we have partnered since our debut season in 2010. We have shared an important part of our Team’s journey together and Cosworth have been an integral part of our clear progression. We will continue to work together during the latter half of the season to ensure we all achieve our combined objectives before Cosworth leave the sport.”