MUMBAI: Formula 1 and the Federation of International Automobiles (FIA) have announced Pirelli as the sole Global Tyre partner of the FIA Formula 1 World Championship. The new deal will run for four years, from 2020 to the 2023 season inclusive.

Following the successful partnership, which was up for renewal at the end of 2019, a new agreement has been completed continuing Pirelli’s longstanding relationship with the FIA Formula 1 World Championship. All parties have reaffirmed their commitment to work together towards the new technical regulations expected for 2021, including the 18-inch tyre.

Formula 1 chairman and CEO Chase Carey said, “Pirelli have been an important and valued partner to Formula 1 since 2011. They are leaders in providing innovative state of the art capabilities. They are a premium brand, a clear global leader in motorsport and our ongoing partnership with them is proof once more of our desire to align F1 with the best in motorsport and beyond. We are delighted to have reached this agreement, which guarantees a long-term stable future for such a crucial component of Formula 1.”

FIA president Jean Todt said, “I am happy to have Pirelli appointed for another period as official tyre supplier to the FIA Formula 1 World Championship. It will allow all of us to enjoy the experience gained since 2011. We know how crucial and difficult is the role of the tyre supplier and, particularly, in Formula 1.”

Pirelli VP and CEO Marco Tronchetti Provera said, “It’s excellent news that Pirelli is prolonging its partnership with Formula 1 until 2023. This new agreement extends our presence to a total of 13 seasons in the modern era, with Pirelli also present in 1950, when the World Championship was inaugurated. Formula 1 is and will remain the pinnacle of motorised competition: the perfect environment for Pirelli, which has always defined motorsport as its most advanced technological research and development laboratory. Formula 1 provides the perfect showcase for our Ultra High Performance road car tyres, which equip the world’s most desirable prestige and premium vehicles to guarantee the highest standards of performance, sustainability and safety.”