Ferrari and Lambo will sign a deal to sponsor the F1 grid for the 2017 season, which kicks off in the season opener on July 1 in Barcelona.
The Italian company will supply the first-class teams with a number of components, including chassis and engine parts, as well as other components such as aero kit.
The agreement will come after the Italian manufacturer signed a multi-year deal with the team earlier this year.
It will be the first time Ferrari has worked with Lamborghinis.
Ferrari CEO Sergio Marchionne confirmed the deal in an interview with the Italian newspaper La Repubblica in April.
“The first part is the development of our chassis and the other parts of the car,” he said.
La Finca, which is owned by Lamborghina, is in the midst of a restructuring and has already made significant investments in the 2017 car.
In addition to the new F1 chassis, La Fincan is also in the process of making aero kits for the new cars.
Marchionne said he was “extremely excited” about the partnership.
“We will be using the FCA engines, which will have a very important role to play in the future,” he added.
While Lamborghin and Ferrari are the main suppliers to the Italian automotive industry, Marchionnes team has a history of partnering with other companies, with Ferrari partnering with Renault in the early 2000s and Renault later working with Caterham in 2016.
More to come