Vigna: Ferrari redefining limit of what is possible in F1

Earlier on Tuesday it announced it would supply engines and gearboxes to a new Cadillac Formula 1 team in a multi-year agreement from 2026.

Vigna said the luxury sportscar maker was "very proud" of a deal to supply engines and gearboxes to a new Cadillac Formula 1 team in a multi-year agreement from 2026 the company announced earlier on Tuesday.

"We are very glad of this selection, and this makes us proud. Also, we have a sense of responsibility because the success of these other teams, it also depends on our engine," Vigna said at the Reuters NEXT conference in New York.

Vigna, a former tech executive who took over as Ferrari CEO in 2021.

"Our company has a magic purpose," he went on. "We are redefining the limit of what is possible in F1.

"In our DNA is racing. We have been present in this sport, which is now becoming entertainment, since the beginning," he added.

Ferrari finished the 2024 F1 season second in the constructors' championship behind champions McLaren. The Maranello outfit have not won a title since 2008.

They are the most successful team in F1 with 15 drivers' titles and 16 constructors' championships.