Weichai hopes new Ferrari deal will keep it in poll position

Weichai Power, a major sponsor of the Ferrari Formula One racing team, is to strengthen its partnership with the Italian supercar maker, after signing a strategic alliance with it on technology development, brand promotion and market exploration over the next four years.

One of China's leading manufacturers of power-train system and heavy-duty vehicles, Weichai reached a sponsorship agreement in late January for an undisclosed amount with Scuderia Ferrari, the racing team division of Ferrari.

The agreement will expire at the end of the 2016 sporting season.