PIF Launches E360 Partnership with Formula E, Extreme E, E1

The Public Investment Fund (PIF) announced the launch of the E360 partnership with global electric motorsport championships: “Formula E”, “Extreme E”, and “E1”. This initiative is set to propel the growth of electric motorsports and its role in advancing sustainable mobility.

Multi-Year Collaboration Enhancing Technological Innovation

Spanning several years, the partnership aims to create a platform for initiatives showcasing the power of electric motorsport. It will drive technological innovation and mark a significant shift in the future of sustainable transport. It will also contribute to carbon emission reduction efforts.

PIF Unveils Its Evolved Corporate Identity

In London, the PIF also revealed its updated corporate identity, reflecting the fund’s heritage and values. This new identity, symbolizing commitment to growth. It also leads transformative change. All its partnership events will include it, including E360 activities.

PIF’s Recognition in Global Rankings

The PIF has achieved the top position in the Middle East and a high global ranking among 100 sovereign wealth funds in the latest global governance and sustainability ratings by Global SWF. The E360 partnership aligns with PIF’s sponsorship strategy focusing on inclusivity, sustainability, youth, and technology.

E360 to Enhance Educational Opportunities in Electric Motorsport Engineering

The E360 partnership will foster educational opportunities in electric motorsport engineering, alongside training programs. The PIF’s support for the three electric motorsport championships will introduce pioneering initiatives, such as:

• PIF Electric 360 Leadership Events: Bringing together experts to accelerate sustainable mobility transformation.
• Educational initiatives in STEM in Saudi Arabia, concurrent with each championship race.
• Professional training programs with industry and technology partners at each championship.

Leaders’ Statements on the Partnership

Alejandro Agag, Founder and Chairman of Formula E, Extreme E, and E1, commented on the partnership as a milestone in their journey to lead sustainable mobility innovations. “With each championship’s positive global impact, we are confident that the ‘360 Partnership’ will elevate our potential to new heights,” he said.

Mohammed Al Sayed, Director of Corporate Identity at the PIF also stated, “The PIF believes strongly in the power of partnerships and invests in innovative collaboration. It is driven by its motto ‘Investing for a Better Future’. The E360 partnership and the three championships will also redefine electric sports and align with PIF’s strategy to support sustainability innovation and the future of mobility.”

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