Motorola has collaborated with the elite sports car making company, Ferrari, to launch the Moto G Ferrari Edition in Mexico for $387.

Motorola, one of the biggest smartphone makers, is experimenting again with its Moto G. The smartphone maker announced a partnership with Ferrari, creator of some of the world's finest supercars and the owner of the most successful Formula 1 team in the sport's history, to offer a newly designed Moto G smartphone for sports car enthusiasts. The special version of the phone will initially hit the stores in Mexico. No plans of bringing the phone to the U.S. or other countries around the world were discussed.

Motorola revealed the pricing and the details of the Moto G Ferrari Edition along with the all-new Moto E smartphone in an official blog last Tuesday. The Moto G Ferrari Edition comes in a Kevlar casing and features the car maker's signature yellow prancing horse logo on the back cover. The phone sports a black color and boosted 16GB internal memory.

"For fans of sports cars or people looking for a touch of exclusivity, soon also offer the Moto G Ferrari Edition, which includes the iconic Ferrari logo on the cover, exclusive content and special accessories Ferrari," Motorola wrote in the blog.

The technical aspects of the smartphone remain untouched and feature an HD display, latest Android version, quad-core processor and 1GB RAM, all for less than $200 off contract. In addition to the Ferrari-inspired design for the outlook, the Moto G Ferrari Edition has a bumped up price tag. From its standard sub-$200 price, buyers interested in purchasing the unique handset must shell out $387 (4,999 Pesos), off contract. The handset will be available in stores in Mexico, starting next month.