STEVEDORE DP World and the Renault F1 Team have signed an agreement making DPW the racing car team’s global logistics partner and team title partner starting from the 2020 season.

Under the partnership, teams from DP World, Renault Sport Racing and Groupe Renault are to leverage the F1 global marketing platform and explore opportunities to increase their supply chain efficiency.

Renault Sport Racing chair, Jérôme Stoll, said they were “delighted and honoured” to welcome DP World to the Renault family.

“This is an extremely interesting and exciting collaboration across multiple disciplines,” Mr Stoll said.

“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.”

Mr Stoll said Formula One wanted to become carbon neutral by 2030 and they were evaluating ways to reduce both their carbon footprint and 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,” he said.

DPW group chairman and CEO, Sultan Ahmed Bin Sulayem, said one of their strategic objectives was 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,” he said.

“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,” Sultan Bin Sulayem said.

“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.”