Saudi Aramco and Formula One’s Aston Martin Cognizant team have announced a long-term partnership that entails sponsorship rights and joint efforts in research and development, according to the official Saudi Press Agency.
In a statement released by the F1 team, it said that the “partnership will drive the development of highly efficient internal combustion engines, high-performance sustainable fuels, advanced lubricants and the deployment of non-metallic materials in vehicles.”
According to the team’s statement, “the joint R&D efforts will underpin efforts made by the team to meet Formula One’s target to be powered entirely by sustainable fuels by 2025.”
The partnership will also focus on the development and commercialization of fuel-efficient engine technologies for passenger cars, and “highly efficient hybrid engines for racing cars,” according to SPA.
Additionally, the team has been officially renamed to ‘Aston Martin Aramco Cognizant Formula One™ Team.’
F1 is one of the leading motorsport events globally with over 1.9 billion fans who tune-in to the year-long event.
In 2020, Saudi Aramco sponsored its first race at the Austrian Grand Prix, which marked the company’s first global partnership with a major sporting event.
This saw Aramco’s branding featured trackside on events throughout 2020. Aramco also became the title sponsor for several races throughout the season, the sixth such sponsor.
Saudi Aramco Senior Vice President of Refining, Processing and Marketing, Mohammed al-Qahtani, stressed that the partnership with Aston Martin F1 “reflects Saudi Aramco’s continued commitment to implementing low-carbon solutions for fuel and engine technologies, which is consistent with efforts aimed at reducing emissions in the automotive and transportation sectors in the world, and the ambition of Saudi Aramco,” in the SPA report.