Ferrari starts work on new F1 factory

Ferrari has started work on a new building to house the famous formula one team.

The team announced on Tuesday that "the first excavations" have commenced on an area currently used as a carpark between Ferrari’s existing F1 factory at Maranello and the famous Cavallino restaurant.

It will eventually house "the offices of the management, engineers and administrative staff along with the working areas of the team", Ferrari confirmed.

Ferrari also confirmed reports that its 2013 car will be publicly unveiled in the days immediately before the pre-season test period begins in very early February.

The team did not disclose the actual launch date, instead revealing that the car will be unveiled "at Maranello" in "the very first days of February".

Autosprint magazine had claimed Ferrari’s launch day is February 2.