Mattia Binotto confirms first job since F1 Ferrari exit

Mattia Binotto has landed his first job since leaving the Ferrari F1 team.

Binotto has joined TEXA - an Italian company - as managing director of their E-Powertrain division.

It means that he is off the market for a potential return to the Formula 1 paddock.

Binotto resigned as team principal at Ferrari after the 2022 season amid mounting speculation that he would lose his job.

He was replaced by Fred Vasseur.

Binotto worked at the Ferrari F1 team since 1995. He worked his way up through the engine division then became chief technical offier, and finally team principal.

He has been linked to jobs at other F1 teams since, but that now won't be happening.

Instead, his future is in electric road vehicles.

Binotto said: “Beyond the competitive experience that I have always had in my life, what attracted me to TEXA was the strategic audacity of its project to build Italian excellence characterised by the most advanced technologies of new mobility.

“In fact, TEXA intends to establish itself as the reference technological standard on a global level.

“And this thanks to the mobilisation of huge investment resources and the attraction of the best talents to be concentrated in Italy, that is, where there is a formidable motoring culture to be preserved, renewed and now also relaunched.”