Sauber will continue an engine partnership with Ferrari next season just 24 hours after their deal with Honda fell through.
The Swiss outfit had agreed to team up with beleaguered Japanese manufacturer Honda in 2018, only to pull the plug on their contract ahead of Sunday's Hungarian Grand Prix.
Sauber, last but one in this year's constructors' championship, currently use one-year-old Ferrari engines, but their new deal will give them access to the latest specification power units.
"I am very pleased to confirm that we will continue to work with Scuderia Ferrari as our engine supplier in form of a multi-year agreement," said Frederic Vasseur, Sauber's new team principal.
"The shared experience between the Sauber F1 team and Ferrari has built a strong foundation, which will allow us to move forward swiftly and efficiently, also in terms of the development of the 2018 car.
"I am convinced that together we can achieve the results which reflect the passion and determination that is, and always has been, behind the Sauber F1 team."
Sauber's decision to terminate their contract with Honda casts fresh doubt over the Japanese manufacturer's long-term future in the sport, with McLaren, their only other partner on the grid, also considering their options for next year.
Related links
Hungarian Grand Prix lowdown
F1 dates, results and standings
