Zurich-based wealth manager extends its sponsorship of the all-electric car racing series.

Formula 1 is far and away the crown jewel of motor racing and the most popular motorsport which companies also use as perks for their clients. But with environmental concerns on the rise, an all-electric car series was started in 2014, and Zurich-based Julius Baer was a major sponsor from the beginning. 

Now it is extending its commitment to the ABB FIA Formula E World Championship until 2026, which marks the 12th season of the series according to a statement from Julius Baer on Monday. Through Formula E’s mission of accelerating sustainable human progress through the power of electric racing, Julius Baer is focused on raising awareness and action around climate change and sustainable development.

Round one of the new Formula E season kicks off in Mexico City on January 14, with the 17-race series ending in London on July 30, with races to be held in Monaco, Sao Paulo, Rome, and other cities, with two race venues still to be determined. 

Zurich Race Dropped

Unfortunately for Julius Baer, the Zurich race was dropped from the calendar for 2019, after some 100,000 spectators watched the event on the shores of Lake Zurich in 2018. The competition marked the first motor race to be held in Switzerland in 63 years. It seems city Zurich city officials didn't care for the crowds. Still, the series holds a license to race in Switzerland and not a specific city.

Swiss Connections

In addition to the Julius Baer sponsorship, another Swiss company, ABB is also heavily invested in the series and is the firm that lends its name to the series. 

Swiss racing driver Sebastian Buemi won the championship in 2015 and 2016 and will contest the 2023 season with the Envision racing team. He also recently became a brand ambassador for Alpian, Switzerland's first digital private bank.

In announcing the extended partnership, Julius Baer CEO Philipp Rickenbacher said «as one of Formula E’s founding partners since 2014, it should come as no surprise that we remain enthusiastic about the success of our engagement with the all-electric series. We are united with Formula E by a pioneering spirit and an interest in the innovations and megatrends that are shaping our future.»