Formula E has taken the bold step of partnering with industrial technology giant ABB as title sponsor, becoming the ABB Formula E Championship going forwards.
Although partners, including Swiss private bank Julius Baer, have been key to the growth and success of Formula E since its conception, this is the first time the championship has allowed the whole title to be sponsored.
ABB are an industrial technology company specialising in green and electrical logistics and development, a natural fit for a championship that sees the transformation of mobility, especially urban mobility, as one of its most significant goals.
Speaking in London, Formula E CEO Alejandro Agag said that the urgency of the fight against climate change was key to driving forward the partnership, “Global warming is the invisible menace of our time, we cannot see it – we cannot feel it every day and we do not feel the urgency of acting all the time. But it’s very much there and it’s threatening human life on this planet.
“We need environmental action to transform the world, to get us to a place where we can change things, to have a solid business case – we need the good things to also make economic sense. If electric cars are cheaper and better than combustion cars, everyone will have electric cars. The cities will be cleaner, the world will be in a position to stop climate change.
Only technology will drive that – we need a second generation of activists and business leaders on climate change.”
Agag said that ABB, who develop fast-charging technology for electric vehicles, manage grid and green energy supply and develop specific mobility solutions to reduce and reverse the environmental impact of globalised supply chains, were the ideal partner for this mission.
ABB CEO Ulrich 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.”
FIA Formula E will now be the ABB Formula E Championship, with ABB branding included in the Formula E logo.
Photo Credit: ABB Formula E Championship