The Ferrari Formula One team has signed its first Chinese sponsor, in the form of Weichai Power.Weichai Power, part of the wider Weichai Group, produces mechanical components for heavy-duty vehicles. The company has signed a four-year deal with the team, which will run until 2016.Ferrari, which has targeted China as an area of road car sales growth, is due to launch its 2013 car at its Maranello headquarters in Italy on Friday morning, at which point more clues as to the extent of Weichai's sponsorship are likely to emerge.Weichai Group already has Italian links: the company owns a majority stake in luxury yacht manufacturer Ferertti Group, a deal completed in January 2012.Ferrari also confirmed that three of its sponsors have signed upgraded deals ahead of the 2013 season. Hublot, which last year became the official timekeeper of Ferrari as a whole, has extended its deal and become an official sponsor of the racing team.Russian computer anti-virus solutions company Kaspersky Lab has also extended its deal and will provide additional technical support to the team. Energy drinks firm TNT has also upgraded from official supplier to official sponsor status.Ferrari team principal Stefano Domenicali said of the renewals: "These are significant achievements, which alongside the vital support of our long time partners such as Philip Morris and Shell and more recent ones like Santander, strengthen our position going into what will be a very demanding season, from every point of view."

Source: SportsPro

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