ROME (Reuters) - Ferrari (NYSE:RACE) said on Tuesday it would partner with Qualcomm (NASDAQ:QCOM) Technologies to use the San-Diego based group's premium product, the Snapdragon chipsets, to accelerate the sports carmaker digital transformation.
The deal will involve both its road cars and its Formula One racing team and the first common projects, including the so-called digital cockpit, have been already identified, the Italian group said in a statement.
Ferrari's new CEO Benedetto Vigna - a technology industry veteran - said in November Ferrari would seek technology partnerships as it moves ahead with transition toward cleaner mobility and in order to pivot technologies that require high investments.
"Innovation requires market leaders working together. Thanks to this agreement ... we expand our knowledge in digital technologies and web 3.0, areas with great potential for automotive and motorsport," Vigna said in the statement.
The Snapdragon logo will make its debut on the F1-75 racing model, the Ferrari single-seater which will be unveiled at the company's headquarters in Maranello on Feb. 17.