IT major Tata Consultancy Services (TCS) on November 2 announced it has joined the iconic British racing team Jaguar Racing as title sponsor ahead of the 2021-22 ABB FIA Formula E World Championship.
With this announcement, the Jaguar Formula E team has been rebranded as Jaguar TCS Racing with immediate effect.
"During this multi-year partnership, TCS and Jaguar will create a dynamic platform that will drive research and innovation while steering towards advanced concepts and electric vehicle (EV) technologies," a press release noted.
TCS will leverage its leadership in technology transformation and experience working with premier players in the EV value chain, to help Jaguar TCS Racing become a catalyst for electrification, pushing towards low carbon emissions and sustainable mobility, it said.
The partnership will see the creative use of data and insights from the racetrack to shape the wider growth, development, and transformation of the entire electric vehicle ecosystem, TCS further added.
This sponsorship will add to the IT sector behemoth's global portfolio that includes TCS New York City Marathon, TCS London Marathon and TCS Amsterdam Marathon.
Notably, TCS will become the first Indian IT company to associate with Formula E. The only other Indian company which is associated with the motorsport championship for electric cars is Mahindra & Mahindra.
Meanwhile, the partnership between TCS and Jaguar Land Rover dates back to 2012. The two companies have led joint initiatives in areas such as connected product engineering and digital transformation.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
