In a press event, which was live streamed over Facebook and Twitter, Formula E CEO Alejandro Agag announced a new title sponsorship deal with Swiss-Swedish corporation ABB Group, which specialises in robotics, power, heavy electrical equipments, and automation technology. The ‘revolutionary’ deal will see the championship become the ‘ABB Formula E Championship’.
It is the first time ever that an FIA sanctioned championship has had a title sponsor and Agag described the deal as “historic” and went on to say “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. Our two companies are synonymous with pushing the boundaries of what is possible.”
Ulrich Spiesshofer, the CEO of ABB Group 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.”
The deal with ABB is effective immediately and will run through till 2025.
The next round of the FIA Formula E Championship takes place this weekend, on January 13th, in Marrakesch, Morocco.