Binotto has been out of the spotlight since he left Ferrari at the end of the 2022 season, following a difficult campaign for the Maranello-based squad.

He had been linked with several opportunities in F1, including with Alpine and Audi, but has elected to switch focus to the automotive world instead.

Binotto has been announced as the new managing director of Italian company TEXA, which is the Italian acronym for Electronic Technologies for Automotive.

The Treviso company, originally founded in 1992, is best known as a world leader in vehicle diagnostic tools.

However, it also has interests in exhaust gas analysers, stations for air conditioning maintenance and devices for remote diagnosis, for passenger cars, motorcycles, trucks, agricultural and construction vehicles, along with boats.

In his new role, Binotto has been entrusted with the strategic coordination of its ambitious E-Powertrain division, which is aimed at designing, producing and supplying new automotive components for electric vehicles – and especially high-performance sportscars.

Speaking about his new role, 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 in new mobility.

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

TEXA founder Bruno Vianello added: “I am happy that a top manager like Mattia, who has gained extraordinary experience in the world of Formula 1, synonymous with very high technology and competitiveness, has chosen to enrich the TEXA team with his driving contribution.

“Together with the rest of the e-Powertrain division team, made up of young and enthusiastic engineers, we are aiming for intense development that will lead us to achieve important and significant results in the most valuable segment of the automotive market in just a few years.

“This is a niche in which large international groups have already entered. The competition and comparison with them will certainly be stimulating