ZURICH, Switzerland: Global pioneering technology leader ABB is bringing its name and innovation and technology leadership to the FIA Formula E Championship. The all-electric series will be now known as the “ABB FIA Formula E Championship”.
Though the financial terms of the deal were not disclosed, AP puts the value of the title sponsorship between the Swiss technology company and the electric-powered motorsport series at more than $100 million for the seven-year contract that runs through to 2025.
With its unrivalled expertise in electrification and leadership in electric vehicle charging solutions, with the largest installed base of fast-charging stations for electric vehicles worldwide, ABB is the ideal industry partner for Formula E. Formula E serves as a competitive platform to develop and test e-mobility-relevant electrification and digitalization technologies, helping refine the design and functionality of electric vehicles and infrastructure as well as the associated digital platforms. By joining forces, ABB and Formula E will be ideally positioned to push the boundaries of e-mobility.
“We are extremely excited to partner with Formula E in writing the future of e-mobility,” said ABB CEO Ulrich Spiesshofer. “Today (Tuesday), two pioneers are uniting. ABB and Formula E are a natural fit at the forefront of the latest electrification and digital technologies. Together, we will write the next phase of this exciting sports activity and foster high-performance teams. Together, we will write the future – one electrifying race at a time.”
Alejandro Agag, founder and CEO of Formula E, said: “This is a historic day for Formula E and I’m honored to welcome the global technology leader ABB as the title partner of Formula E, with its background and expertise in the field of electrification and digital technologies. Our two companies are synonymous with pushing the boundaries of what is possible. Together, as partners, we will showcase breakthrough technology on a global scale to fans and consumers who follow the ABB FIA Formula E Championship.”
As a world leader in electric vehicle infrastructure, ABB offers the full range of charging solutions for electric cars, electric and hybrid buses as well as electrification solutions for ships and railways. ABB entered the EV-charging market back in 2010, and today has a fast growing global installed base of more than 6,000 fast chargers.
The fourth edition of series will see 10 teams and 20 drivers compete in 11 cities spanning five continents in the fight to be crowned ABB Formula E champion. The next race takes place in Marrakesh on January 13, with the 2018 championship coming to a close in July.
