Ferrari F1 car launch 2017

12:03 That's all for now. We'll have more on Ferrari throughout the afternoon while also returning just before 11am UK time for the McLaren reveal. See you then!

11:55 Here's our story on the launch of the SF70H:

Ferrari unveils its SF70H 2017 Formula 1 car

Ferrari became the sixth Formula 1 team to unveil its new 2017 car, the SF70H, on Friday morning

11:52 That was short and sweet from Ferrari. No hanging about. There's a pause in proceedings after the initial reveal, with a live video of the launch promised "soon".

11:51

Spot the T-wing design that appeared on the Mercedes yesterday as well...

11:50

11:49 Similar to the other cars revealed already, the SF70H features a large sharkfin and a thumb-tip nose. Ferrari, like Mercedes, has also gone for a T-wing.

11:48 The garage door is pulled up at Fiorano to reveal the SF70H, with Sebastian Vettel, Kimi Raikkonen, Maurizio Arrivabene and Mattia Binotto surrounding the car.

11:47 And we're off. The stream begins with a teasing VT following the build of this year's 2017 challenger.

11:46 Ferrari president Sergio Marchionne has since said he will not plough more money into the F1 project, instead demanding the team use its budget more wisely. The outfit is believed to have the largest budget of anyone on the grid at around £330million (including engines).

11:45 This is a big year for Ferrari. It harboured hopes of challenging for the title last season, but failed to win a race and was beaten to second in the constructors’ championship by Red Bull, finishing 367 points adrift of Mercedes.

11:43 Ferrari has opted for an online launch, streamed via its website and live from Fiorano, where it plans to run its new car for the first time later as part of a filming day. It is scheduled to begin at 0845 UK time.

11:41 Morning everybody. Another day, another launch. Although today, for the first time in the 2017 F1 ‘launch season’, we’ve got a doubleheader. Ferrari will reveal its 2017 challenger shortly, with McLaren following suit later this morning.