The Spyker F1 team has confirmed they will use Ferrari engines next season.

"This announcement completes the first chapter of Spyker MF1 team and I believe truly illustrates our commitment and ambition," the team's director of F1 Racing Michiel Mol said in a statement. "We are in F1 to be competitive."

Spyker bought the Midland team, who competed last year as Jordan and have Toyota engines at present, earlier this month and will race under the name of Spyker F1 next season. The takeover was approved by shareholders of the Dutch luxury sportscar maker on Thursday.

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