Aston Martin has confirmed a name change after the F1 team extended its technical and commercial partnership with Saudi oil company Aramco for an additional five years.
Aston Martin Formula 1 Team confirmed a five-year contract extension deal with Saudi Arabian oil company Aramco, as Fernando Alonso and Lance Stroll are set to race for the team in the 2024 Formula 1 season.
The team will therefore compete from next season as ‘Aston Martin Aramco Formula One Team’.
The US IT corporation Cognizant will no longer be listed as part of the Silverstone-based team’s official name, with Aramco becoming the exclusive title partner starting in 2024 as a result of the newly signed contract.
In 2021, Aston Martin adopted the practice of Formula 1 teams having two title sponsors, with Aramco and Cognizant serving as naming partners.
the Silverstone-based team’s relationship with Aramco, which will serve as Aston Martin’s exclusive title sponsor effective next season, was reinforced after the signing of the new long-term partnership deal.
Aston Martin indicated in a statement on Thursday that once the new F1 regulations take effect in 2026, Aramco will supply the team with best-in-class technology to produce cutting-edge fuels and lubricants in addition to the team’s new works power unit in partnership with Honda.
In order to motivate the next generation of technicians, engineers, and drivers, Aramco and Aston Martin will work hand in hand on STEM (science, technology, engineering, and mathematics) projects.
“We are very proud to continue and strengthen our successful partnership with Aramco,” said Aston Martin F1’s executive chairman Lawrence Stroll. “We already enjoy an important strategic relationship and their support as our title partner for the next five years is a clear demonstration of our shared ambition.
“Since 2022, they have played a key role in Aston Martin’s Formula One® journey and their contribution will only become more significant in the years ahead.
“We are working together on several key initiatives, including the development of advanced fuels for 2026, when we begin our Honda works power unit partnership.
“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 organisation, especially at our new AMR Technology Campus.”
Nabeel A. Al-Jama’, Aramco Executive Vice President Human Resources & Corporate Services, added: “We are delighted to become the exclusive title partner of the Aston Martin Aramco Formula 1 Team.
“Since partnering with the team in 2022, we have witnessed the team take significant strides forward and have enjoyed celebrating some very special moments, including eight podiums this season.
“The future for the Aston Martin Aramco Formula 1 Team is bright, and today’s news reaffirms our long-term commitment to Aston Martin where Aramco’s expertise and technology can contribute to advanced car performance, especially with our development of advanced fuels and lubricants.”
Aston Martin finished fifth in the Formula One Constructors’ standings at the end of 2023 with eight podiums from Fernando Alonso over the season.
