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Ferrari F1 team secure first Chinese sponsor
The Ferrari Formula One team announced their first Chinese sponsor on Thursday, a maker of components for heavy industrial vehicles a world away from the glamour of the Italian company's supercars. Ferrari said in a statement that the deal with Weichai Power would run to the end of the 2016 season. China is a major market for Ferrari, who have had a presence there for more than 20 years. The team were overall runners-up in Formula One last season and are the only ones to have competed in every championship since 1950.
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