LONDON – The Teijin Group and Envision Virgin Racing jointly announced Wednesday that they have agreed to a multi-year sponsorship contract which will support the team’s participation in the ABB FIA Formula E Championship.
Headquartered in Japan with over 170 group companies worldwide, Teijin is a leading technology-driven global group, operating in the fields of high-performance materials including advanced fibres, plastics and composites, healthcare and IT businesses.
Envision Virgin Racing has been competing in the all-electric Formula E race series since its inception, becoming one of the sport’s most successful teams with 11 wins and 26 podiums, and energising its ‘Race Against Climate Change’ initiative, while pursuing further sustainable mobility solutions.
The Teijin Group and Envision Virgin Racing are committed to exchanging know-how and complementing each other’s state-of-the-art technologies.
In particular, the Teijin Group will develop high-performance materials and products that will help improve the comfort of Envision Virgin Racing drivers.
“Through ceaseless evolution and ambition, we are aiming to be a company that supports the society of the future by creating new value,” said Jun Suzuki, president and CEO of Teijin Limited. “By supporting Envision Virgin Racing, which competes in races with electric vehicles (EVs) as a means of raising awareness of global warming, we will develop technologies and accumulate the know-how and solution capabilities required for future EVs that satisfy ever-stricter environmental regulations.”
“Formula E is one of the most competitive motorsport series there is meaning any advantage that can be gained is crucial. To ensure we have this, Envision Virgin Racing aligns with like-minded, innovative, climate-focused brands and hence why we’re very excited to have The Teijin Group join our family,” added Envision Virgin Racing Managing Director Sylvain Filippi. “Being able to tap into their wealth of expertise and high-performance material and composite technologies will help us on track, whilst away from the track we’re looking forward to working together on our Race Against Climate Change program.”
In the future, Teijin will also explore new business opportunities through the development and provision of lightweight, high-performance automotive components, leveraging the freedom of design that will be required for next-generation automobiles.
Teijin will also take the opportunity of this sponsorship agreement to raise awareness of the Teijin brand in related industries.
“Everyone is delighted to be welcoming The Teijin Group to the team, and for them to be joining our ever-growing list of world class partners, all of whom help us achieve the success we generate both on and off track,” noted Franz Jung, the Chairman of the Board for Envision Virgin Racing.