F1: Ferrari’s (NYSE:RACE) ‘New’ Engine Debuts at Spanish Grand Prix

F1: Ferrari’s (NYSE:RACE) ‘New’ Engine Debuts at Spanish Grand Prix

$RACE

Ferrari (NYSE:RACE) will introduce a F1 engine upgrade at this weekend’s Spanish Grand Prix as part of its drive for increased performance.

The Scuderia originally planned for its 1st power unit update of the season to come in Canada, but it has brought forward the development 2 raced ahead of schedule to Barcelona.

Ferrari was initially the pre-season favorite following a strong pre-season test showing in Spain. But, Ferrari has yet to take a win 1 of the opening 4 races, with MercedesAMG making it a clean sweep of 1-2 finishes so far this season.

“It’s time for the Spanish GP, traditionally a race where most of the teams bring some updates, therefore we can expect to see a step up in performance from our competitors,” Ferrari team principal Mattia Binotto said.

“We are currently behind in the championship and we have to catch up, which we know means that our development work will be the key to this season.

“Having brought a new aerodynamic package to Baku, we will also bring some developments in this area to Barcelona.

“On Top of that, we will have a new power unit that we are introducing ahead of schedule, as the second specification was due to be brought to Canada.”

Mr. Binotto said the engine upgrade goes hand in hand with an update from Ferrari’s lubricant supplier Shell (NYSE:RDS.A), which the team expects to deliver “increased performance”.

“Shell, in close collaboration with our team, has developed a different formulation of race lubricant that will also be introduced with the new power unit, delivering increased performance.

“It is only down to a big team effort with everyone pushing hard to make up ground that we have been able to bring these developments forward.”

Ferrari currently trails MercedesAMG by 74 points in the 2019 constructors’ championship.

Ferrari is the Aristocrat of the automotive sector.

The iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Bullish to Very Bullish, there is light resistance now at 139.91, and strong support at 134.69, all of our Key indicators are Bullish-Very Bullish in here.

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