Formula E Team Mahindra Racing Renews Deals  

India’s Formula E Championship team Mahindra Racing has renewed sponsorship deals with Nippon Audiotronix and Coral Eyewear.  

Ahead of Season 10 of the ABB FIA Formula E Championship, the team that is trying to reignite its heyday of finishing Top 3 in 2016/17,  has refreshed its technical and performance personnel as well as acquired a new driver pairing of 2020/21 champion Nyck de Vries and Edoardo Mortara. This statement of intent has obviously led to increased commercial interest in the team. 

One of the top producers of automotive electronics in India, Nippon Audiotronix, produces cutting-edge driver assistance systems, vehicle telematics, and in-car infotainment systems, among other products.

Being a prominent player in the automotive sector, its continued backing of the Mahindra team on the ABB FIA Formula E World Championship grid reflects its ongoing dedication to offering cutting-edge technology and premium car electronics as the sector transitions to a more sustainable future.

Meanwhile, Coral Eyewear— co-founded by University of East Anglia student George Bailey— is famed for upcycling discarded fishing nets and sea debris into spectacles.   

Following the renewal, Cameron Maultby, Chief Commercial Officer at Mahindra Racing, commented,“It’s great to be able to extend our partnerships with both Nippon Audio and Coral Eyewear. We’ve enjoyed a fantastic relationship with both companies in the past, and their support signals a real intent from our commercial partners to back the team once again ahead of this exciting new chapter for Mahindra Racing, beginning in Season 10. It’s also a great signal of confidence in the ABB FIA Formula E World Championship going forward, which we know has very exciting plans to ensure the continuation of its rapid growth over the coming years.”

“High-performance design, cutting-edge innovation and sustainability are the cornerstones of both our racing team, and the work of both Nippon Audio and Coral. There’s a great synergy between the brands, which will only strengthen our collective position ahead of another competitive season in the ABB FIA Formula E World Championship.”

Kanwaljeet Singh Goindi, Founder of Nippon Audiotronix, said,“It is our pleasure to continue to be associated with Mahindra Racing, and with such a premier international championship such as Formula E. We hereby extend our best wishes to all the teams and the entire racing fraternity for another exciting season ahead.”

George Bailey, Co-Founder of Coral Eyewear, commented, “We’re really excited to be continuing our partnership with Mahindra Racing going into Season 10. The team are on an exciting journey and the new driver line-up has only added to the optimism felt when attending the London E-Prix in Season 9.” 

“The content we have produced together over the past three seasons has started powerful conversations around sustainable purchasing and helped accelerate our growth within the eyewear industry in the UK and beyond.”

According to ASN data, motorsports (9.7% share) is the 4^th largest platform for sport sponsorship across Asia with investment of slightly over US$1.35b since Q121. Spending for Q423 is also forecasted to hit almost US$182m, over 1.5x of the quarterly average investment of almost US$119.6m.