Ferrari has confirmed it is no longer in talks to acquire Vitorias sports-touring company Sportx.
The Italian automaker said it will no longer be in talks with Vitorium, a joint venture between the company and Ferrari.
The sports-tuner announced last year it would merge with Ferrari, which it says will offer a better range of luxury cars and the world’s most technologically advanced cars.
“We have always maintained a positive relationship with Sportx,” said an F1 team spokesman.
“We are happy that we have found a new partner for this project.”
Vitoria said in a statement that it is “happy to announce the end of the discussions with Ferrari”.
The sportx brand is not a new one for Ferrari.
The company had its first foray into the sport in the 1990s with its iconic sports cars such as the Maserati Enzo and the Lamborghini Aventador.
Sportx has been owned by F1’s teams since 2004, and was created in 2005 by a group of former Ferrari employees.
Ferrari’s sporting teams have also been bought by Mercedes-Benz and Audi.