The world’s number one oil company, Aramco, extends its contract with Aston Martin
Aramco, one of the world's leading energy and chemicals companies, and the Aston Martin racing team announce a long-term extension of their partnership.
Aston Martin and the Saudi energy company Aramco have extended their technical and commercial partnership for an additional five years. The new agreement will see Aramco become the exclusive title partner of the team starting from 2024, with the American technology giant Cognizant no longer included in the team’s official name based in Silverstone.
She will therefore compete from next season under the name of « Aston Martin Aramco Formula One Team ».
« “We are very proud to continue and strengthen our successful partnership with Aramco,” commented Lawrence Stroll, Executive Chairman of Aston Martin F1.
« We already have an important strategic relationship and their support as a title partner for the next five years is a clear demonstration of our common ambition. Since 2022, they have played a key role in Aston Martin’s Formula 1 journey and their contribution will only become more significant in the years to come. »
« We are working together on several key initiatives, including the development of advanced fuels for 2026, when we will begin our partnership with Honda’s factory powertrain groups. […] 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, particularly in our new AMR technology campus ».
Nabeel A. Al-Jama’, Executive Vice President of Human Resources and Corporate Services at Aramco, said: “« We are thrilled to become the exclusive title partner of the Aston Martin Aramco Formula One team »”, before continuing, “« since our partnership with the team in 2022, we have seen significant progress and have enjoyed celebrating very special moments, including eight podium finishes this season.”
The future of the Aston Martin Aramco Formula One® team is promising, and today’s news reaffirms our long-term commitment to Aston Martin, where Aramco’s expertise and technology can contribute to advanced car performance, particularly through our development of advanced fuels and lubricants.
Aston Martin and Aramco have stated that they will also work on joint initiatives in science, technology, engineering, and mathematics (STEM) to inspire young technicians, engineers, and future drivers.
Aston finished its 2023 campaign in fifth place in the F1 constructors’ standings, with Fernando Alonso securing eight podium finishes for his team during the season. Currently powered by Mercedes, the team will switch to Honda engines starting in 2026 following the introduction of the new technical regulations and Formula 1 power units.
