Visitors ride Formula Rossa, the world's fastest roller coaster with a top speed of 239 kilometers per hour in Ferrari World Abu Dhabi, one of the world's largest indoor theme parks, in Yas Island, Abu Dhabi, October 28, 2010. [Photo/IC]

Italian luxury car maker and Formula One powerhouse Ferrari in March announced it had signed a memorandum of understanding with two Chinese companies to build a Ferrari theme park in China, according to a report by AFP.

If Ferrari's non-binding deal with Beijing-based carmaker BAIC Motor Corp Ltd and BAIC Eternaland Property Co Ltd is implemented, China will be the world's third country to have a Ferrari theme park. But the location of the theme park is still-to-be-decided.

The first Ferrari theme park was established on an island near Abu Dhabi, followed by another one being constructed in Spain.