MUMBAI: Repsol, Spanish oil giant has extended its title sponsorship deal with Honda’s MotoGP team until 2020. It will remain the main sponsor for the motorcycling outfit and continue as the supplier of the fuel and lubricants used for the team’s bikes.

Honda Racing Corporation president Yoshishige Nomura was quoted stating, “During this period, we have successfully faced together the many exciting challenges posed by the rapid evolution of technology, the ever-increasing level of racing competition, the growth of the worldwide MotoGP audience in traditional and new markets, and the fast-changing means of communicating with fans,” to Crash.net.

Both the parties joined hands for the first time in 1995. Honda and Repsol have won 13 premier rider world championships and secured 163 Grand Prix victories, with the most recent coming from Spanish star Marc Marquez at the Dutch TT.

Repsol executive managing director- communications Begoña Elices García said, “We are very pleased to have renewed our alliance with Honda -an alliance that will celebrate its 25th anniversary next year and that goes well beyond a traditional sponsorship agreement."