Sunday, October 17, 2021 2:30 PM – Updated: 2:42 PM
Mercedes will not replace the long-standing title sponsor Petronas with the Saudi Arabian oil company Saudi Aramco at the end of the Formula 1 season, GP fans understand.
In December last year, INEOS, under the leadership of Sir Jim Ratcliffe, increased its stake in the Mercedes F1 team in order to position itself as an equal partner alongside Daimler and team principal Toto Wolff.
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As part of a $ 2 billion investment with Aramco and Frances Total in 2019, three plants are currently under construction in Saudi Arabia, with the INEOS 425,000-ton acrylonitrile plant expected to be completed in 2025.
Given the INEOS-Aramco ties, reports have emerged that Mercedes will be separating from Malaysian oil and gas company Petronas and merging with Aramco.
Though sources couldn’t rule out the possibility of a deal with Aramco being struck, GPFans have been confirmed that Mercedes and Petronas’ relationship will last for several years, well beyond 2022.
A spokesman for Mercedes told GPFans: “Petronas and Mercedes have been partners in a long-term cooperation since 2010, which is mutually beneficial.
“Last year we extended our partnership for another multi-year cycle and we are proud to continue to work together to achieve excellence.”
Petronas recently withdrew its title sponsorship for the Sepang Racing Team MotoGP team, where seven-time premier class champion Valentino Rossi has retired this year.
Aramco branding was prominently featured in Formula 1 this season, with the company sponsoring a number of Grand Prix events as well as pre-season testing.
With the Saudi Arabia Grand Prix being held for the first time in December, further investments in the sport are likely.The post Mercedes will not replace Petronas with Aramco in 2022 first appeared on monter-une-startup.
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