Alfa Romeo is set for a Formula One return for the first time in 33 years.
Partnering with the Swiss-based Sauber F1 Team to create Alfa Romeo Sauber F1 Team, the Italian manufacturer will take part in the sport from next year.
The new deal will see the 2018 Sauber cars equipped with up-to-date Ferrari power units while, sporting the red and white colours of Alfa Romeo.
In addition to rebranding the team, Alfa will also be providing new technical staff to develop future race machinery.
Sergio Marchionne, CEO of Fiat Chrysler Automobiles, said: “This agreement with the Sauber F1 Team is a significant step in the reshaping of the Alfa Romeo brand, which will return to Formula 1 after an absence of more than 30 years.
“Alfa Romeo will join other major automakers that participate in Formula One. The brand itself will also benefit from the sharing of technology and strategic know-how with a partner of the Sauber F1 Team’s undisputed experience.”
Pascal Picci, chairman of Sauber Holding AG, said: “We are very pleased to welcome Alfa Romeo to the Sauber F1 Team. Alfa Romeo has a long history of success in Grand Prix racing, and we are very proud that this internationally renowned company has chosen to work with us for its return to the pinnacle of motorsport.
“Working closely with a car manufacturer is a great opportunity for the Sauber Group to further develop its technology and engineering projects. We are confident that together we can bring the Alfa Romeo Sauber F1 Team great success, and look forward to a long and successful partnership.”
Alfa Romeo last took part in Formula One as a constructor in 1985, having also won the 1950 and 1951 driver’s championships with Nino Farina and Juan-Manuel Fangio respectively.