F1 News: Aston Martin Confirms Partnership Extension And New 2024 Name
Aramco and the Aston Martin Formula One team have announced an extension of their partnership, heralding a new era for the team as the Aston Martin Aramco Formula One Team from 2024. This collaboration marks a significant stride in the team's journey, emphasising advancements in technology and performance. It speculated that this is five-year contract extension, however, this has not been confirmed by Aston Martin.
Key Takeaways:
- Long-term Partnership Extension: The collaboration between Aramco and Aston Martin is set to intensify with a long-term partnership extension. This move is a testament to their shared commitment and the success of their alliance since 2022.
- New Team Name in 2024: From January 1, 2024, the team will embrace its new identity as the Aston Martin Aramco Formula One Team. This change represents a new chapter in the team's history, reflecting the deepening of ties with Aramco.
- Advanced Technology Collaboration: The partnership will focus on delivering advanced fuels and lubricants, particularly with the new Honda works power unit engine partnership starting in 2026. Aramco's expertise is expected to significantly enhance the team's on-track performance and technological prowess.
Aston Martin Press Image
Nabeel A. Al-Jama', Aramco's Executive Vice President Human Resources & Corporate Services, expressed his delight at becoming the exclusive title partner of the team. He reflected on the team's significant progress and the shared vision for the future, highlighting Aramco's role in advanced car performance with its development of advanced fuels and lubricants.
"We are delighted to become the exclusive title partner of the Aston Martin Aramco Formula One Team.
"Since partnering with the team in 2022, we have witnessed the team take significant strides forward and have enjoyed celebrating some very special moments, including eight podiums this season.
"The future for the Aston Martin Aramco Formula One Team is bright, and today's news reaffirms our long-term commitment to Aston Martin where Aramco's expertise and technology can contribute to advanced car performance, especially with our development of advanced fuels and lubricants."
Aston Martin Press Image
Lawrence Stroll, Aston Martin Aramco Formula One Team's Executive Chairman, echoed these sentiments, emphasising the strategic importance of the partnership. He detailed the significant role Aramco has played since 2022 and its growing importance with the upcoming Honda works power unit partnership.
"We are very proud to continue and strengthen our successful partnership with Aramco.
"We already enjoy an important strategic relationship and their support as our title partner for the next five years is a clear demonstration of our shared ambition.
"Since 2022, they have played a key role in Aston Martin's Formula One journey and their contribution will only become more significant in the years ahead.
"We are working together on several key initiatives, including the development of advanced fuels for 2026, when we begin our Honda works power unit partnership.
"Aramco's expertise and products will make a real contribution to our on-track performance and add significant value in many other areas of our organization, especially at our new AMR Technology Campus."