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Motorsport Week
Home Single Seater Formula E Extreme E

Saudi Arabia’s PIF-backed Neom partners McLaren in FE, XE

by Motorsport Week
3 years ago
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Saudi Arabia’s PIF-backed Neom partners McLaren in FE, XE
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McLaren Racing has announced a long-term partnership in its electric division with Neom, the city project funded by Saudi Arabia’s Public Investment Fund.

McLaren is due to enter Formula E later this season while it made its debut in Extreme E earlier this year.

Neom is the eco-city under construction in the Tabuk region of North West Saudi Arabia.

It has previously been a principal partner of Mercedes’ Formula E team, the operation which McLaren is taking over in the championship.

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McLaren last year announced a $758m equity investment with much of the money originating from Saudi Arabia’s PIF, which became a minority stakeholder.  

“We are delighted to welcome NEOM to the McLaren Racing family,” said McLaren CEO Zak Brown.

“This is an incredible way to kick off our entry into Formula E and to unify our electric racing series.”

Saudi Arabia has become increasingly prominent in sport in recent years, including in motorsport.

Jeddah and Diriyah host grands prix and E-Prix respectively while Aramco is a title partner of Formula 1 and Aston Martin Formula 1.

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