Formula 1 car maker Ferrari is teaming up with Italian ocean racing yachtsman Giovanni Soldini to build boats and enter world sailing competitions.
Ferrari has competed in F1 since 1950 and returned to endurance racing last year, claiming a shock victory at the Le Mans 24 Hours race.
Chairman John Elkann said the project will expand its “racing soul”.
Soldini has over 30 years’ experience in solo and crewed ocean races, including two round-the-world races.
He will join Ferrari’s project as team principal.
Earlier this week, the 57-year-old and Italian car maker Maserati announced the end of their 11-year-long partnership in ocean navigation.
“I am thrilled to start this new adventure with Ferrari. We are working on an important and cutting-edge project with an amazing technological potential,” Soldini said.
Ferrari said it would rely on “cutting-edge technologies throughout the entire cycle, from conception and engineering to realisation” of the boat.
