Mercedes’ British driver Lewis Hamilton steers his car in the pit lane during the first practice … [+]
Fans looking at the new Mercedes F1 car this season will see a new partner on board. Tuesday, the team announced a new partner, Solera, has joined the team in a multi-year deal.
Based in Texas, Solera is a vehicle lifecycle management software-as-a-service, data, and services company through four lines of business – vehicle claims, vehicle repairs, vehicle solutions, and fleet solutions. Their brands include Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, and Autodata. All of which Solara says is a “one-stop shop” solution that streamlines operations, offers data-driven analytics, and enhances customer engagement to over 300,000 customers in over 100 countries.
The company will join Mercedes’ partners who include such big names as Hewlett Packard, AMD, Tommy Hilfiger, UBS financial, the Ritz-Carlton and Monster Energy.
The Solera brand will appear on the car and on the left sleeve of the driver, pit crew overalls, and team clothing. It will also be shown on partner displays trackside and at garages along with other placements. The company branding and logo will be featured on the Mercedes-Benz high-performance vehicle “Hot Laps Car” at one race during the season.
Toto Wolff, team principal and CEO of the Mercedes Formula 1 Team and Darko Dejanovic, CEO of … [+]
In addition, Solera will have access to the Mercedes Formula 1 team members, including drivers Lewis Hamilton and George Russell.
While financial terms of a sponsorship deal are rarely released, Solera will be joining the IT Services and Support category which in 2022 contained 55 brands, the largest in the industry. And like many F1 sponsors, Solera should expect to get a very good return on its investment. According to Motorsport MBA, in 2021, the sponsorship value brand partners received during just one race weekend, the Monaco Grand Prix was $49 million. UBS financial, one of Mercedes’ partners generated $1.5 million. For comparison that same year it was estimated that NASCAR’s Daytona 500 generated approximately $2 million.
In all, Formula 1 will hold 23 race weekends in 2023.
“Solera and the Mercedes-AMG PETRONAS Formula 1 Team
The Solera brand will appear on the car and on the left sleeve of the driver, pit crew overalls, and … [+]
The Mercedes F1 team is one of the sports oldest teams having entered the sport originally in 1954. They have secured eight constructors titles in the last 12 years, seven of those with driver Lewis Hamilton.
“Data innovation, combined with the drive for ultimate performance through people, processes, and technology, are hallmarks of a successful business and team,” said Toto Wolff, team principal and CEO of the Mercedes Formula 1 Team. “We are delighted to welcome Solera to the team as a partner, not only due to their reputation as an industry leader but owing to our shared beliefs and values.”
“It is fantastic to welcome Solera to our growing partner family,” said Richard Sanders, commercial director of the Mercedes Formula One Team. “As leaders in our respective industries, there are many synergies between our two businesses. We are excited to begin our relationship and highlighting the Solera brand to our global audience.”
The Solera branding will be unveiled at the Team’s 2023 F1 car launch on Feb. 15 in the UK.
Source: https://www.forbes.com/sites/gregengle/2023/01/17/mercedes-f1-teams-signs-texas-based-sponsor-to-multi-year-deal/