Motor racing-Alfa Romeo and Sauber extend F1 naming rights deal

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LONDON (Reuters) - Italian car maker Alfa Romeo and Swiss-based Sauber announced a multi-year extension of their Formula One partnership on Wednesday.

The team has competed under the Alfa Romeo name for the last three seasons after the deal grew from an original title sponsorship of what was Sauber F1.

Formula One is undergoing a major regulation change next year while talks are ongoing about what kind of power unit will be used from 2025.

It is expected to remain a V6 but with more of an electric component.

"Formula One represents a cutting-edge laboratory for the future electrification of our range, fully coherent with our vision for the coming years," said Alfa Romeo CEO Jean-Philippe Imparato in a statement.

Premium brand Alfa Romeo is part of Stellantis, the world's fourth largest carmaker resulting from the merger of Fiat Chrysler and Peugeot.

The team's current drivers are 2007 world champion Kimi Raikkonen and Italian Antonio Giovinazzi.

(Reporting by Alan Baldwin, editing by Toby Davis)