https://adgully.me/post/5252/pif-creates-new-electric-360-partnership-with-formula-e

PIF creates new Electric 360 partnership with Formula E

The Public Investment Fund (PIF) today unveiled a multi-year partnership, Electric 360, with Formula E, Extreme E and E1 to support the growth of electric motor sports and their role in advancing the future of electric mobility.The new partnership will draw together initiatives that underscore the power of electric motor sports to drive technological innovation, and revolutionize sustainable transport and future mobility – while leading the way in carbon reduction. PIF today also announced the launch of its new brand revamp, which captures PIF’s heritage and essence and embodies its commitment to progress and growth in driving transformation at a historical scale. The new identity will be used at all PIF partnership events, including E360 events, throughout 2024 and beyond. PIF is ranked by Global SWF as one of the top sovereign wealth funds in the world and number 1 in the Middle East for Sustainability among the top 100 sovereign wealth funds globally. The E360 collaboration is in line with PIF’s broader sponsorship platform, bringing to life the brand’s ambition with a focus on four pillars: inclusivity, sustainability, youth, and technology. The partnership announced today will also promote educational opportunities tied to the cutting-edge engineering of electric motor sports, as well as community, social programs and environmental stewardship.With PIF as the sole principal partner to span all three series, this initiative will directly facilitate and accelerate the delivery of:- PIF Electric 360 thought leadership events, bringing together leading industry experts with the brightest minds to drive sustainable mobility change;- STEM initiatives globally to coincide with each championship series; and- Community apprenticeship programs with industry partners in each championship.The partnership will support the mission-driven objectives of all three series by enhancing Formula E's proven race-to-road transfer model and reinforcing its position as the world’s most sustainable sport, enabling Extreme E to forge new frontiers and spearheading E1’s revolutionary drive around marine mobility. This partnership not only benefits each championship in its own right, but also underlines the commitment of all parties to drive technological innovation and sustainable solutions.Alejandro Agag, Founder and Chairman of Formula E, Extreme E and E1 said: “This one-of-a-kind partnership with PIF is a huge milestone for us in our journey to pioneer the most cutting-edge sustainable transport technology. With so many examples of the positive real-world impact of each series, this 360-partnership takes our potential to the next level. PIF will not only play a strategic role in helping us leverage our unique technological platforms, but also foster global collaboration, education and skills development for the next generation worldwide.”Mohamed AlSayyad, Head of Corporate Brand at PIF, said: “At PIF, we believe in the power of partnerships, investing in innovative collaborations as part of our focus on ‘Investing in Better.’ These partnerships will enhance the quality of life for people, provide opportunities for the communities we serve, and help continue our work as a catalyst for transformation. “Together with these championship series, Electric 360 will redefine electric sport and supercharge its growth, delivering tangible impact aligned with our broader business strategy as PIF drives new green technological innovation that will be the cornerstone of future electric mobility.”
https://adgully.me/post/2595/porsche-extends-formula-e-commitment

Porsche extends Formula E commitment

Riyadh, Dubai, Stuttgart, London:– Porsche and Formula E yesterday announced the sports car manufacturer has extended its involvement in the ABB FIA Formula E World Championship through Season 12 in 2025/2026.Porsche entered Formula E in 2019 with an initial five-year commitment until the end of the forthcoming Season 10 which will conclude in July 2024.The announcement confirms TAG Heuer Porsche Formula E Team will continue to compete in the premier all-electric motorsport world championship through the GEN3 era racing the Porsche 99X Electric car. The GEN3 is the third generation of Formula E race car which debuted this season and is the fastest, lightest, most powerful and efficient electric race car ever built.Porsche also confirmed it will continue to play an active role in shaping the successful future of Formula E and is already involved in the design of the fourth generation of race car which will enter the championship from Season 13.This season has been the most successful for TAG Heuer Porsche Formula E Team since it entered Formula E. Pascal Wehrlein and António Félix da Costa have won four of the 14 races to date – three and one victory respectively.For the first time this season, Porsche is supporting a customer team, Avalanche Andretti Formula E, with driver Jake Dennis currently leading the Drivers’ World Championship going into the final two races in London this Saturday and Sunday. Britain’s Dennis has secured two wins and nine podiums to date in the Porsche 99X Electric and starts as the favourite for the title in his home races. Michael Steiner, Member of the Executive Board for Research and Development, Porsche AG, said:"With our entry into Formula E, we have opened a new chapter in all-electric motorsport. We remain convinced that our presence and successes in Formula E will lay the foundation for future mobility solutions. It provides the most competitive environment to accelerate the development of high-performance vehicles with a focus on environmental friendliness and energy efficiency. We look forward to playing an active role in shaping the successful future of Formula E and thereby giving electric mobility even more impetus on a global scale."Thomas Laudenbach, Vice President of Porsche Motorsport, said:"We want to bring innovative technologies and more sustainability to motorsport and be at the forefront of new developments. Formula E plays a major role in this. The competition in this series is at an exceptionally high level and enables us to provide important impetus for future production models. With high-class and exciting races, it inspires people around the globe for electromobility. We will be happy to continue to contribute to this in the future."Alejandro Agag, Founder and Chairman, Formula E, said:“Porsche has been a valued and influential team since joining Formula E and we are excited that this will continue. The championship is enabling Porsche to accelerate development of the innovative EV technologies we see in their road cars, while the team is an active member of the group driving development of the next generation of Formula E car to arrive in Season 13.”Jeff Dodds, CEO, Formula E, said:“Porsche’s commitment to racing in the ABB FIA Formula E World Championship will undoubtedly maintain the quality of sporting competition and entertainment at the highest level in the coming seasons. Porsche’s presence on the grid racing against other iconic racing automakers is what makes Formula E the most competitive grid in motorsport.”The 2023 Hankook London E-Prix double-header this Saturday and Sunday is the climax of Season 9 in the ABB FIA Formula E World Championship.Jake Dennis, driving for Porsche customer team, Avalanche Andretti Formula E team, has a 24-point advantage over Nick Cassidy (Envision Racing) going into the season finale on home soil and a circuit where he has won twice.Mitch Evans (Jaguar TCS Racing) is 44 points back in third, while TAG Heuer Porsche Formula E Team driver Pascal Wehrlein is 49 points behind Dennis. However, as the two previous races in Rome proved, anything can happen in Formula E and all four drivers at the top will be competing for the world title and a place on the podium.