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Saudi Aramco has signed a new five-year agreement to become the exclusive sponsor of the Aston Martin Formula One team, starting from the 2024 season. The joint statement revealed that the team will be officially known as Aston Martin Aramco from January onwards.
From 2026, Aramco plans to deliver advanced fuels and lubricants to the team, leveraging its best-in-class technology. This will be in addition to the team's new collaboration with Honda, focusing on a works power unit engine partnership, according to a press release by Aston Martin F1.
Consolidating a Dominant Position
As a significant strategic partner, Aramco had been a co-main sponsor alongside Cognizant, an American IT company. While Cognizant will remain a strategic partner, Aramco's exclusive sponsorship demonstrates the company's commitment to the Formula One team.
As the owner of the Formula One team and chairman of the separate Aston Martin car company, Canadian billionaire Lawrence Stroll expressed his satisfaction with the partnership. Stroll stated that the shared ambition between Aston Martin and Aramco has already played a vital role in Aston Martin's F1 journey and will continue to do so in the years ahead, as per Arab News.
The Executive Vice President for Human Resources and Corporate Services at Aramco, Nabeel A. Al-Jama', expressed delight at becoming the exclusive title partner of the Aston Martin Aramco Formula One Team. Al-Jama highlighted the team's significant progress since partnering in 2022 and reinforced Aramco's long-term commitment to Aston Martin's car performance enhancements.
Saudi Arabia's Public Investment Fund recently increased its stake in British luxury carmaker Aston Martin to 20.5%. This move signifies the country's growing interest and involvement in the automotive industry.
Aramco Advances Car Performance
The news of Saudi Aramco's exclusive sponsorship affirms a bright future for the Aston Martin Aramco Formula One Team. The expertise and technological contributions of Aramco, particularly in advanced fuels and lubricants, will undoubtedly contribute to their ongoing development in the world of motorsport.
Aramco's wealth of expertise and cutting-edge technology positions them as key contributors to advanced car performance. Their ongoing collaboration with Aston Martin is expected to yield even more remarkable achievements in the future.
Photo: Carlo D'Agnolo/Unsplash
