Malaysian oil and gas company Petronas has extended its title sponsorship deal with the Mercedes Formula One motor-racing team, the dominant force of the 2014 F1 season.
Terms of the deal were not disclosed, but the two parties said the new agreement paves the way for a decade of partnership between Mercedes-Benz and Petronas. The partnership between Mercedes and Petronas dates back to 2010, when the works team of the German automotive giant joined the F1 grid for the first time since 1955.
During this time, the two companies have grown a state-of-the-art technological partnership to deliver fluid technology solutions for the hybrid power unit and chassis of the Mercedes cars. Furthermore, this technological partnership has been complemented by a strategic business alliance with Mercedes-Benz, extending the partnership from the track to the company’s road cars.
To mark the new deal, the Mercedes cars driven by Nico Rosberg and Lewis Hamilton ran with a revised livery from the weekend’s Monaco Grand Prix, with enhanced Petronas branding on the front wing, chassis and bodywork.
Toto Wolff, head of Mercedes-Benz Motorsport, said: “Ever since 2010, our relationship with Petronas has been founded on the values of true partnership: trust, honesty and shared ambition. In that time, Petronas has become the most prominent energy company in Formula One and we have worked as one to develop a world-class partnership in fluid technology solutions that has delivered a measurable on-track advantage in 2014. The result is a partnership that has delivered on every level.”
So far in 2014, Mercedes has claimed six consecutive wins and five one-two finishes. Rosberg raced to victory in the prestigious Monaco GP on Sunday, leapfrogging his team-mate in the process to retake top spot in the drivers’ world championship.