By Aaron Bearden, Contributing Writer
For the first time ever, an FIA-sanctioned single seater championship has a title sponsor.
On Tuesday, Formula E Founder & CEO Alejandro Agag and ABB CEO Ulrich Spieshoffer announced in London that the two companies have reached a groundbreaking multiyear agreement which sees ABB become the title sponsor of the all-electric tour, effective immediately.
As such, the series has been renamed the ABB FIA Formula E Championship. The tour’s logo has also been altered to include ABB branding.
“This is a historic day for Formula E and I’m honoured to welcome ABB as the title partner of the series, with its background and expertise in the field of electrification and digital technologies,” Agag said in a release. “Our two companies are synonymous with pushing the boundaries of what is possible.
“Together, as partners, we will showcase break-through technology on a global scale to fans and consumers who follow the ABB FIA Formula E Championship.”
The announcement marks a significant addition for Formula E, who have benefitted greatly from various sponsorship pairings but never ventured as far as a title sponsor. It also further extends the tour’s unique image and vision within the FIA umbrella, giving it a title sponsor where the sanctioning body’s other tours have steered clear.
“Formula E continues to grow and in addition to its sporting and technical success, the tremendous level of excitement surrounding this new FIA discipline is tangible,” FIA President Jean Todt said. “Today’s ABB announcement as the title partner is a strong sign and proof of the attractiveness of this championship, which is still in its infancy.”
ABB is a company focused on industrial technology, which works in utilities, industry and transport and infrastructure for more than 100 countries on a global scale. The company is a leader in electrification products, and its specialty in logistics figure to pair it well with Formula E’s worldwide tour.
“We are extremely excited to partner with Formula E in writing the future of e-mobility,” Spiesshofer said. “Today, 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.”
Formula E will see it’s first race under the ABB banner this weekend, when the paddock heads to Morocco for the Marrakech E-Prix.