Speed Demons

ABB and Formula E partner for $15M motorsport sponsorship

With its latest move, ABB has all the appearance of a company that’s in another lane.

The Swiss conglomerate confirmed a sponsorship deal with Formula E, the first all-electric racing series, in a press release January 8. Reports project the deal to be worth around $15 million annually.

The two companies team up in what they describe as a groundbreaking partnership to champion e-mobility for a sustainable future. “Since its first race in Beijing in September 2014, Formula E has established itself as the number one all-electric international motor sport,” boasts the ABB release.

The series will be known as the ABB FIA Formula E Championship. This is the FIA electric street racing series and the world’s first fully-electric international single-seater category in motorsport. Formula E has brought races to New York, Hong Kong, Paris and Zurich. The fourth edition of series will see 10 teams and 20 drivers compete in 11 cities spanning five continents. The next race takes place in Marrakesh, Morocco on January 13, with the 2018 championship coming to a close in July.

Alejandro Agag (left), founder and CEO of Formula E, and Ulrich Spiesshofer, CEO of ABB.—ABB photo

ABB anticipates that its experience with EV charging solutions—it possesses the largest installed base of fast-charging stations for electric vehicles worldwide—will make it an ideal industry partner for Formula E. The motorsport world will serve as a competitive platform to develop and test e-mobility-relevant electrification and digitalization technologies, helping refine the design and functionality of electric vehicles and infrastructure as well as the associated digital platforms.

ABB offers charging solutions for electric cars, electric and hybrid buses as well as electrification solutions for ships and railways. The company first entered the EV-charging market back in 2010, and today has a global installed base of over 6,000 fast chargers.

“We are extremely excited to partner with Formula E in writing the future of e-mobility,” said ABB CEO Ulrich Spiesshofer. “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.”

Alejandro Agag, founder and CEO 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. 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.”

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