This partnership is a first step in the exploration of ways to make the global automotive supply chain more efficient by lowering costs, increasing speed and transparency, and mitigating the environmental impact.
DP World to become Renault F1 Team global logistics partner and title partner
DP World and the Renault F1 Team have signed an agreement making DP World the Global Logistics Partner and Title Partner of the team, which will become the Renault DP World F1 Team starting from the 2020 season.
Under the partnership, teams from DP World, Renault Sport Racing and Groupe Renault will leverage the F1 global marketing platform and collaboratively explore opportunities to increase the efficiency of their supply chain.
DP World is a world leader in trade and is rapidly transforming into the leading provider of global supply chain solutions for cargo owners. Its history goes back to 1972 at Port Rashid in Dubai, in the United Arab Emirates. Today, the company has a team of over 50,000 people working at more than 150 operations around the world. With a strategically-located network of ports, parks, logistics, economic zones and marine services in both mature and high-growth markets around the globe, DP World operates a vast network of interconnected infrastructure assets along the supply chain.
Jérôme Stoll, Renault Sport Racing Chairman, commented: "We are delighted and honoured to welcome DP World to the Renault family. This is an extremely interesting and exciting collaboration across multiple disciplines. We look forward to working with DP World, a leading global logistics provider, to explore ways of improving our efficiency and mitigating our environmental impact. After the ambitions expressed by Formula One to become fully carbon neutral by 2030, we are constantly evaluating ways to reduce our carbon footprint and our turnaround time. We expect that working with DP World will reveal opportunities for tangible solutions to some of the logistical challenges faced by our F1 team's supply chain and by extension, the automotive industry at a larger scale. We also look forward to cross-fertilising our engineering skills through shared innovation."
Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said: "One of our strategic objectives has been to develop innovative logistics solutions for the automotive sector. This partnership is a first step in the exploration of ways to make the global automotive supply chain more efficient by lowering costs, increasing speed and transparency, and mitigating the environmental impact."
"In addition to the unquestionable value of the marketing platform, Formula 1 is the most technologically intensive sport in the world, incorporating the advanced usage of data to create ever-increasing efficiency on the track. So too, DP World leverages technology, exploits data and embraces innovation to enable more efficient logistics and smarter trade for its customers, creating a better future for all."