Saudi Basic Industries Corp. sees partnership with electric car series aligning with its sustainability, electrification strategies RIYADH: Saudi chemical industry giant SABIC has announced the launch of a major long-term sponsorship deal and innovation partnership with Formula E, the world’s first net-zero sport since inception. The linkup will begin at the weekend with title sponsorship of the 2022 SABIC London E-Prix, a double-header of races at the ExCeL London exhibition center on July 30 and 31 in the ABB FIA Formula E World Championship. Riyadh’s Diriyah E-Prix has opened each of the last four seasons of Formula E. SABIC vice chairman and chief executive officer, Yousef Al-Benyan, said: “We are excited to partner with Formula E. Our sponsorship will drive global visibility of the SABIC brand within a relevant, exciting, and growing global sports platform. “In addition, we intend to collaborate closely with Formula E to integrate our sustainable solutions into their ecosystem and operations. “This offers SABIC a unique opportunity to transfer our innovations from Formula E into the broader automotive and EV (electric vehicle) industries benefiting our customers and partners and demonstrating our ability to support the world’s transition to EV and a more sustainable future,” he added. The partnership aligns with SABIC’s broader sustainability strategy as well as electrification, one of the pathways the company has identified toward achieving carbon neutrality. Formula E founder and chairman, Alejandro Agag, said: “We welcome SABIC to the ABB FIA Formula E World Championship. The 2022 SABIC London E-Prix is the beginning of a progressive and innovative partnership that will have a positive impact on our mission to drive sustainable human progress through the power of electric racing.”