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Alfa Romeo, the Italian brand owned by Fiat Chrysler Automobiles (FCA), on Wednesday signed a multi-year technical and commercial partnership agreement with Swiss Sauber Formula One team for participation in the F1 world championship beginning with the 2018 season.
The single-seaters will sport the distinctive colours and logo of Alfa Romeo, the team's title sponsor, and will be equipped with the 2018 Ferrari power units.
Sergio Marchionne, CEO of FCA, 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."
"A storied marque that has helped make the history of this sport, Alfa Romeo will join other major automakers that participate in Formula 1. 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."
"The Alfa Romeo engineers and technicians, who have already demonstrated their capabilities with the newly-launched models, Giulia and Stelvio, will have the opportunity to make that experience available to the Sauber F1 Team," Marchionne said.
"At the same time, Alfa Romeo fans will once again have the opportunity to support an automaker that is determined to begin writing an exciting new chapter in its unique, legendary sporting history," he added.
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," Picci added.
The return of Alfa Romeo, one of the major protagonists in Formula 1 history, is expected to contribute significantly to the appeal and future development of the sport.
Alfa Romeo is known around the world for its racing heritage and technological excellence.