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Formula 1 has announced a new global partnership with Saudi Arabian oil company Aramco, adding to speculation that a Saudi Arabian Grand Prix will be joining the F1 calendar in the near future.
One of the richest companies in the world by revenue, Aramco will work with F1 in developing enhanced engine efficiencies and mobility technology.
Part of the new sponsorship deal will include a collaboration to advance F1’s use of sustainable fuels, as the series looks to reduce its environmental impact.
Formula 1 has recently announced plans to work on improving its sustainability, with efforts to go carbon neutral by 2030 part of an ongoing project to cut down on its carbon footprint.
State-owned Aramco becomes the sixth global partner of F1, alongside existing partners, DHL, Emirates, Heineken, Pirelli and Rolex.
Trackside branding will be present at the majority of races this season, and the company has also secured naming rights to the 2020 US, Spanish and Hungarian Grands Prix.
Formula 1 publishes plan to become carbon neutral by 2030; proposals include using renewable energy, net-zero carbon engines and offsetting Photo: Motorsport Images Formula 1 has announced plans to become…
The new deal also strengthens the potential of a Saudi Arabian Grand Prix in the future, with rumours suggesting that a 2023 race date is already a part of the sport’s future plans.
Said to be part of the country’s ‘Vision 2030’ plans, a new purpose-built circuit could be ready to host a Formula 1 race by 2023, though a Saudi Arabian race may happen before then with a temporary street circuit constructed in the city of Jeddah.
F1 CEO Chase Carey said the deal was an important step for the sport in developing its expertise in fuel and energy.
“We are delighted to welcome Aramco to the Formula 1 family as a long-term Global Partner as we start our 2020 season,” he said.
“We are looking forward to sharing our combined expertise and working with Aramco on technological innovation and we will benefit hugely from its capabilities and expertise in the fuel and energy sector.”
“We have the ambition to find game-changing solutions for better-performing engines and cleaner energy.” Aramco president and CEO Amin H. Nasser said.
“Partnerships like these are important to help us to deliver on our ambitions.”
