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Dhahran, Saudi Arabia - The Aston Martin Cognizant Formula One™ Team and Aramco today announced a long-term strategic partnership, which will drive the development of highly efficient internal combustion engines, high-performance sustainable fuels, advanced lubricants and the deployment of non-metallic materials in vehicles.
In addition to joint research and development, the collaboration includes team sponsorship rights, a licensing agreement, as well as exclusive branding and endorsement rights for Aramco fuels and lubricants.
As a result, the team will be known as Aston Martin Aramco Cognizant Formula One™ Team. The alliance complements Aramco’s status as a global strategic sponsor of Formula One – the world’s premier motor racing event with over 1.9 billion fans worldwide.
The joint R&D efforts will underpin efforts made by the team to meet Formula One’s target to be powered entirely by sustainable fuels by 2025. Additionally, the partnership will focus on development and commercialization of fuel-efficient engine technologies for road vehicles, and the development of more efficient hybrid engines in motorsport.
Lawrence Stroll, Chairman of Aston Martin Aramco Cognizant Formula One™ Team, said: “We are in the sport to win so I am delighted to welcome an incredible partner of the stature of Aramco, who I have learnt from this process has a tremendous amount of intellectual property and technical capability, which I know will greatly assist our team to achieve our goals of winning Formula One world championships. Our historic partnership demonstrates the scale of our ambition to make our team a pioneering and winning force in Formula One and showcase the sustainability and performance of Aramco’s products.”
Mohammed Al Qahtani, Senior Vice President Downstream at Aramco, said: “The partnership reflects Aramco’s efforts to reduce emissions in the global automotive and transport industries. Our ambition is to supply premium fuels and lubricants to the global automotive sector, and our tie-up with the Aston Martin team will help drive awareness of our high-quality products. It is an alliance that harnesses our shared commitment to engineering excellence and innovation, and has the potential to deliver winning results both on and off the track.”
Martin Whitmarsh, Group Chief Executive Officer of Aston Martin Performance Technologies, said: “Winning in Formula One is all about assembling and managing the right ingredients in the optimal way. Aramco is an innovative company whose ultra high-tech expertise will make a very real and hugely valuable contribution to improving the performance of, and delivering the future success of, Aston Martin Aramco Cognizant Formula One™ Team.”
Ahmad Al Khowaiter, Chief Technology Officer at Aramco, said: “We are very excited to collaborate with such a renowned name in the automotive industry to advance motorsports technology. With our combined expertise we have the potential to improve engine performance and reduce emissions, helping lower the carbon footprint of the sport and, eventually, the automotive industry.”
Contact Information
International Media Relations: international.media@aramco.com
Investor Relations: investor.relations@aramco.com
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com.
About Aston Martin Aramco Cognizant Formula One™ Team
Aston Martin returned to Grand Prix racing in 2021 having last competed in the sport more than 60 years ago. With one of the most iconic emblems in the world emblazoned above the garages and a growing team of passionate men and women at its heart, this is a team with both a rich heritage and a fresh perspective. Alongside collaborative and strategic partners, the Silverstone-based team is bringing new energy to the sport with a determination to shake up the order and compete at the sharp end.
A growing family, where like-minded people from all walks of life are encouraged to be a part of our journey and given a platform to thrive, our mission is to use the global platform of motorsport to engage new wave of fans – showcasing the technology and innovation which live at our core while representing the values that resonate with the changing world in which we live. www.astonmartinf1.com
© Press Release 2022
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