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Formula E fuels future by sealing ‘historic’ title sponsor in ABB

Alejandro Agag and Ulrich Spiesshofer

Formula E has picked up its first ever lead sponsor in tech company ABB in a partnership that will look to champion electric-powered mobility on – and off – the race track.

Since its founding in 2014, the motorsport has been gaining in prominence but has been on the hunt for a lead partner. The hunt is now over with the signing of a multi-deal partnership that sees the competition crowned the ABB FIA Formula E Championship.

Alejandro Agag, founder and chief executive of Formula E, said: “This is a historic day for Formula E and I’m honored to welcome the global technology leader ABB as the title partner of Formula E, with its background and expertise in the field of electrification and digital technologies.”

Agag added: “Our two companies are synonymous with pushing the boundaries of what is possible. Together, as partners, we will showcase breakthrough technology on a global scale to fans and consumers who follow the ABB FIA Formula E Championship.”

Ulrich Spiesshofer, chief executive of ABB, said the two groups were “writing the future of e-mobility”.

“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.”

The fourth season of the Formula E series will see 10 teams and 20 drivers compete in 11 cities.

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