Ferrari has newly announced a multi-year collaboration agreement with the Haas F1 team. In it, the Italian automaker will start to provide F1 engines for the American racing team when they make their Formula 1 debut in 2016.

“A few months ago we joined forces with Gene Haas on a commercial level and this is the natural next step of our growing relationship. While our objective is to reinforce our power unit development programme for all our customer teams , we believe this new partnership has the potential to evolve beyond the traditional role of supplying our power unit and all related technical services. United States continues to be one of the most important markets for Ferrari and it offers many interesting opportunities. We look forward to supporting Haas F1 Team in its efforts to become a competitive player on the Formula 1 grid,” said Scuderia Ferrari Team Principal Marco Mattiaci.

The Haas F1 team is a Formula One racing team that was organized in April 2014 by Gene Haas, the NASCAR Sprint Cup Series co-owner. Haas originally showed interest in setting up a team for F1 since 2010 and was given a chance when the FIA opened a process for new teams interested in joining early this year. They are scheduled to make their first F1 participation at the opening of the 2016 F1 season.