The Formula One team has penned down a long-term deal.
British Formula One team Aston Martin have signed a long-term deal with Saudi Arabian petroleum and natural gas company Aramco.
The partnership will see both parties work towards driving development of high-performance sustainable fuels, advanced lubricants, highly efficient internal combustion engines and deployment of non-metallic materials in vehicles.
As a global strategic partner, Aramco also gains title rights to the team, which will now thusly be called the Aston Martin Aramco Cognizant Formula One™ Team.
Lawrence Stroll, Chairman of Aston Martin Aramco Cognizant Formula One™ Team, commented on the partnership:
“We are in the sport to win so I am delighted to welcome an incredible partner of the stature of Aramco, who I have learnt from this process has a tremendous amount of intellectual property and technical capability, which I know will greatly assist our team to achieve our goals of winning Formula One world championships.
“Our historic partnership demonstrates the scale of our ambition to make our team a pioneering and winning force in Formula One and showcase the sustainability and performance of Aramco’s products.”
Mohammed Al Qahtani, Senior Vice President Downstream, Aramco, added:
“The partnership reflects Aramco’s efforts to reduce emissions in the global automotive and transport industries.
“Our ambition is to supply premium fuels and lubricants to the global automotive sector, and our tie-up with the Aston Martin team will help drive awareness of our high-quality products. It is an alliance that harnesses our shared commitment to engineering excellence and innovation, and has the potential to deliver winning results both on and off the track.”
The two parties will also work on the commercialisation and development of fuel-efficient engine technologies for road vehicles and developing more efficient hybrid engines for the motorsport team.
Martin Whitmarsh, Group Chief Executive Officer, Aston Martin Performance Technologies, said:
“Winning in Formula One is all about assembling and managing the right ingredients in the optimal way.
“Aramco is an innovative company whose ultra high-tech expertise will make a very real and hugely valuable contribution to improving the performance of, and delivering the future success of, Aston Martin Aramco Cognizant Formula One™ Team.”
Ahmad Al Khowaiter, Chief Technology Officer, Aramco, stated:
“We are very excited to collaborate with such a renowned name in the automotive industry to advance motorsports technology.
“With our combined expertise we have the potential to improve engine performance and reduce emissions, helping lower the carbon footprint of the sport and, eventually, the automotive industry.”