09:23 AM EDT, 04/13/2026 (MT Newswires) -- Philip Morris International ( PM ) said Monday that it will serve as Ferrari's (RACE) principal partner for Hypersail, a 100-foot ocean racing monohull that will operate entirely on renewable energy.

Initial sea trials and launch are scheduled for this year, the company said.

The engineering project aims to test advanced aerodynamics and control systems for potential applications across industries, including automotive engineering, Philip Morris ( PM ) said.

Shares of Ferrari were down 1.3% in Monday premarket activity, while Philip Morris ( PM ) stock was slightly up.