Aston Martin Formula 1 team and Saudi-backed oil giant Aramco have announced a long term partnership.
The Aston Martin Formula One team has established a strategic relationship with Saudi Arabian oil company Aramco, which involves an industrial and sponsorship partnership.
Aramco will become a joint title sponsor for Aston Martin in 2022, resulting in the team’s name being changed to Aston Martin Aramco Cognizant Formula One Team.
Aston Martin and Aramco, a Formula 1 trackside sponsor, will collaborate to create “highly efficient internal combustion engines, high-performance sustainable fuels, sophisticated lubricants, and non-metallic material deployment in vehicles.”
According to Aston Martin, which uses Mercedes engines, the joint R&D efforts will align with F1’s 2025 goal of using only sustainable fuels.
However, the agreement includes exclusive branding and endorsement rights, as well as sponsorship and licensing rights with the Silverstone-based team.
“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 1 world championships,” said Aston Martin team owner Lawrence Stroll.
“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, added: “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.”
The partnership strengthens Aramco’s position in Formula One following a long-term worldwide collaboration that began in 2020 and has led in the Dhahran-based company having trackside branding at the majority of the calendar’s grand prix.