One of India’s largest automobile company Tata Motors will sponser the Ferrari F1 team for the 2009 season. Its the first time ever that any Indian brand will adorn Ferrari’s F1 car.

Ferrari chief Luca di Montezemolo said “For the first time an Indian brand will appear on a Ferrari.” . There is still no official news on how many zero’s suffix the number in the cheque but it will be big none the less.

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The deal came through Fiat’s Board where Ratan Tata sits. Tata and Fiat already have an existing JV in India to manufacture cars. The newly launched Tata Indica Vista uses the transmission and the engine from Fiat and is being built at the same plant where the upcoming Linea and the Palio are being manufactured.

The news comes as Jaguar and Land Rover, owned by Tata Motors are in talks with the Government for a £1 billion tax-payer aid.