Ferrari signs up its first Chinese sponsor 31 January, 2013 Ferrari have announced their first Chinese sponsor, 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 on Thursday that the deal with Weichai Power would run to the end of the 2016 season. China is a major market for Ferrari, who has 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. Ferrari press release: Scuderia Ferrari announces that it has reached a sponsorship agreement with Weichai Power, one of China’s leading manufacturer of heavy powertrain system and machinery vehicles. The agreement will last four years and will expire at the end of the 2016 sporting season. Weichai Power, part of the Weichai Group, is the first Scuderia sponsor to come from China, where Ferrari has had a presence for over twenty years and which has become one of the main markets for Prancing Horse road cars. (Ferrari) Subbed by AJN. Content on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Getty Images, Formula 1 teams, sponsors & organisations.