Mercedes announced on Saturday morning in the Monaco paddock that title sponsor and technical partner Petronas will remain with the team following the agreement of a “multi-year extension”.
The team refused to comment on exactly how long the new deal would last, but it’s believed to be a substantial extension with increased branding on the W05 Hybrid from Monaco onwards.
The news was confirmed at a press conference attended by Tan Sri Dato’ Shamsul Azhar Abbas, president and CEO of Petronas, Dr Dieter Zetsche, chairman of Daimler and head of Mercedes-Benz and Mercedes-Benz motorsport boss Toto Wolff.
“2014 is a milestone year for Petronas in Formula One,” commented Shamsul Azhar Abbas. “Not only does this year mark our 20th season of involvement in the sport but it also delivered an historic 1-2 finish for the Silver Arrows at the 2014 Formula 1 Petronas Malaysia GP.
“We are proud to partner the best car company in the world, Mercedes-Benz, both on the track and also in our business thanks to our strategic business alliance. Our technical teams worked hand-in-hand to deliver the level of performance we have enjoyed this season in Formula One and it shows that we are developing and delivering world-class products together – both on the track and on the road.”
Zetsche added: “Motorsport is in our DNA. The first Mercedes was a race car and we use the race track as a research laboratory. In Formula One, we can push new technologies to the absolute limit, before they are introduced into our production vehicles.
“The success of our team this season is the result of hard work and an outstanding partnership with Petronas. We share a passion for innovation, the commitment to excellence and, above all, the will to win. We are stronger together – and that’s how it will stay.”
Wolff concluded: “Ever since 2010, our relationship with Petronas has been founded on the values of true partnership: trust, honesty and shared ambition. In that time, Petronas has become the most prominent energy company in Formula One and we have worked as one to develop a world-class partnership in Fluid Technology Solutions that has delivered a measurable on-track advantage in 2014.
“The result is a partnership that has delivered on every level. It is therefore a proud moment to further extend this agreement and build towards a decade of partnership between Mercedes-Benz and Petronas.”
