- Brand also retains sponsorship of Porsche Formula E team and Jean-Éric Vergne
- Formula E to be broadcast on free-to-air TV Cultura in Brazil
- Dragon/Penske Autosport also sign long-term Bosch agreement
TAG Heuer, one of the founding partners of Formula E, will remain as the all-electric racing series' official timekeeper after agreeing to a multi-year renewal.
The Swiss watchmaker has supported the series since its inception in 2014/15 and sponsored specific assets such as the TAG Heuer Fastest Lap, where the driver who secures the fastest lap of each race is awarded a championship point.
As part of the agreement, TAG Heuer will also remain the title sponsor of the TAG Heuer Porsche Formula E team, with two-time series champion Jean-Éric Vergne retaining brand ambassador status.
"We look forward to continuing our successful collaboration with one of Formula E’s founding partners," Formula E chief executive Jamie Reigle said in a statement.
"The TAG Heuer Fastest Lap is a fan favourite, because it influences the possible outcome of the world championship on the track."
Elsewhere in Formula E, Brazilian free-to-air broadcaster TV Cultura has signed a deal to broadcast the series, it has confirmed.
According to SportBusiness, coverage will be carried on TV Cultura's linear network and digital platforms in what is the first time Formula E will be shown free-to-air in Brazil. Pay-TV broadcaster Fox Sports previously broadcast the series across the Americas.
In other Formula E news, Dragon/Penske Autosport have committed to a long-term partnership with Bosch.
The engineering and technology company will develop an energy management system, brake recovery system and the driver display for the team from 2021 onwards.
In addition, Bosch will develop a powertrain for the next generation of Formula E cars - known as Gen3 - which will debut in the 2022/23 season.
Season seven of Formula E begins on 26th February in Diriyah, Saudi Arabia.