Petronas Renews F1 Mercedes Team Deal

Formula 1 team Mercedes?has renewed a new multi-year title sponsorship extension with the state-owned oil and gas company Petronas.?As the title sponsor of the F1 team, the Malaysian brand will be a partner until the end of the 2026 season.?

Under the deal, they will collaborate to develop a 100 per cent sustainable fuel that will make an appearance in the global motorsport series in 2026.

The collaboration, which originated with Mercedes’ admission into Formula 1 in 2010, will also put a stronger focus on new sustainable technology solutions outside of the racetrack.

Mercedes has already taken several steps in this regard, such as strategies to use Sustainable Aviation Fuel (SAF) for air transport and Hydrotreated Vegetable Oil (HVO 100) biofuel for road freight in order to reduce CO2 emissions and reach net zero carbon status by 2030.

The partnership aligns with the International Automobile Federation’s (FIA) net zero by 2030 pledge, and will also have a major impact on Formula 1 teams’ logistics services.

According to ASN data, since Q1:2020 Petronas has also sponsorship deals in many sports including Badminton (Malaysia), Cycling (Malaysia), Athletics (Malaysia) & Cricket (Bangladesh).

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This article was first published in ASN's October 2022 newswire.