Formula One racing team Renault have rebranded as Renault DP World F1 after signing a title partnership with the global logistics and trading solutions company ahead of the 2020 season.
Under the terms of the partnership, Dubai-based DP World will collaborate with Renault Sport Racing, the motorsports arm of the French carmaker, to help explore ways the Renault Group can optimise its supply chain and reduce its carbon footprint.
Sultan Ahmed Bin Sulayem, DP World’s chief executive, said: “One of our strategic objectives has been to develop innovative logistics solutions for the automotive sector.
“This partnership is a first step in the exploration of ways to make the global automotive supply chain more efficient by lowering costs, increasing speed and transparency, and mitigating the environmental impact.
“In addition to the unquestionable value of the marketing platform, Formula One is the most technologically intensive sport in the world, incorporating the advanced usage of data to create ever-increasing efficiency on the track.
“So, too, DP World leverages technology, exploits data and embraces innovation to enable more efficient logistics and smarter trade for its customers, creating a better future for all.”
Aside from title sponsorship, the deal also sees DP World gain prominent branding on the Renault Formula One car, as well across the team’s other digital and physical assets.
Jérôme Stoll, chairman for Renault Sport Racing, added: “After the ambitions expressed by Formula One to become fully carbon neutral by 2030, we are constantly evaluating ways to reduce our carbon footprint and our turnaround time.
“We expect that working with DP World will reveal opportunities for tangible solutions to some of the logistical challenges faced by our F1 team’s supply chain and by extension, the automotive industry at a larger scale. We also look forward to cross-fertilising our engineering skills through shared innovation.”