Southwire Returns as Official Wire and Cable Provider for Formula E
*NORTHAMPTON, MA / ACCESSWIRE / March 19, 2024 / *In support of its commitment to sustainability and innovation, Southwire returns as the Official Wire and Cable Provider for Season 10 of the ABB FIA Formula E World Championship, which began with Round 1 in Mexico City on Saturday, Jan. 13.
As the first sport in the world to be certified net zero carbon since its inception, Formula E has been driving the advancement of e-mobility for nine seasons supported by the world's largest car manufacturers and global brands. Southwire joined Formula E in 2023 as the Official Wire and Cable Provider to the all-electric racing series for Season 9 and served as Title Sponsor of the 2023 Southwire Portland E-Prix on June 24.
"Formula E provides a great platform for networking with key electrification stakeholders, and our involvement creates opportunities for developing new ideas and promoting sustainability," said Stephan Hardt, director of Vertical Strategy and Execution. "Our first season allowed us to plant a lot of strategic seeds, and we expect to see the fruit of our efforts beginning this year."
According to Hardt, partnering with Formula E has already positioned Southwire for success in four key areas: customer engagement, sustainability, brand recognition and technology.
Through its involvement within the Formula E ecosystem, Southwire has connected with more than 20 different customers about potential opportunities, leading to millions of dollars in new sales, and the organization is exploring strategic partnerships with two different racing teams.
"Formula E adds value to Southwire by helping us connect with our strategic verticals like eMobility on a deeper level," said Marc Hall, vice president of E-mobility and Renewable Technologies. "Likewise, we're confident that Southwire will return value to Formula E in very meaningful ways. We're aligning with other ecosystem sponsors and partners to discuss co-development of new and innovative solutions that would advance the sport and may ultimately be used downstream in numerous other industries and applications."
Southwire and Formula E share a number of core values and strive to improve the lives of those around them through sustainability; environmental, social and governance (ESG); and diversity, equity and inclusion (DEI).
At the Change. Accelerated. Live. summit in 2023, representatives from Southwire participated in the "Women in Innovation" panel, engaged in meaningful discussions about environmental stewardship and worked with FIA Girls on Track, a program that invites young women from 12 to 18 years old to discover the different aspects of motorsport and its industry through a set of activities, workshops and behind the scenes access - all free of charge.
"Our partnership with Formula E demonstrates that Southwire is living sustainability instead of just talking about it," said Christy Wright, senior vice president of Corporate Finance. "Going to last year's season finale in London gave me a peek at the latest electric vehicle technology, but what we did away from the race - working with Girls on Track, the net carbon zero event and more - made me excited about our continued partnership. Driving change in these areas and working with organizations who share this vision will help Southwire be an employer of choice."
From a marketing standpoint, Southwire's role as Title Sponsor of the first-ever Formula E race in Portland provided greater brand recognition, opened the door for co-branded merchandise and resulted in additional revenue. Plus, partnering with Formula E offered Southwire new ways to engage and interact with team members through unique contests related to the motorsport.
"Being the Title Sponsor of the Portland race allowed us to introduce Southwire to Formula E partners and its fanbase, giving them a chance to experience our commitment to sustainability and electrified mobility first-hand," said Burt Fealing, executive vice president, general counsel and chief sustainability officer. "Externally, this partnership has given us exposure in new areas alongside prominent companies who have been affiliated with Formula E for much longer, and internally, we've been able to communicate our strategy - especially as it relates to sustainability - and help team members connect with it in a whole new way."
Southwire remains energized about continuing its partnership with Formula E for Season 10 and plans to share additional updates throughout the year.
To learn more about Southwire's commitment to sustainability, visit www.southwire.com/sustainability. For more Southwire news, visit www.southwire.com/newsroom.
View additional multimedia and more ESG storytelling from Southwire on 3blmedia.com.
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View the original press release on accesswire.com