Former BMW and Sauber sponsor Petronas will switch its backing to Mercedes next year.
The team’s official title will be the Mercedes GP Petronas Formula One Team.
The Malaysian state-owned petroleum company has passed up the opportunity to renew its association with Sauber or join up with the new Malaysian-run Lotus team.
Vice-President of Mercedes-Benz motorsports Norbert Haug said:
We are very pleased to begin our long-term partnership with our new title partner Petronas. Daimler, our premium brand Mercedes-Benz and Petronas will work together both on and off the track and I am sure that everybody involved will guarantee their absolute dedication to success. Petronas?óÔé¼Ôäó home base in Kuala Lumpur is located in the middle of a fast-growing region for the automotive industry which makes this new partnership even more valuable.
Within the limits of the new Formula One resource restrictions, the Mercedes GP Petronas Formula One Team will be well positioned to achieve our goals. We will all strive to present efficient success in the future knowing at the same time that the new Formula One season with some fundamental rule changes will be a particularly challenging one.
Mercedes had previously been backed by ExxonMobil lubricants brand Mobil 1. With much interest in Michael Schumacher potentially joining the team it coukd be significant that Mercedes has not signed a deal with Shell, who Schumacher has been associated with in the past.
Mercedes have issued some revised concept artwork of their 2010 F1 car livery which includes the Petronas branding as well as Aabar, MIG and Graham logos. Merging the Petronas turquoise in with the classic Mercedes silver is going to be a tricky job.
The final livery will be seen for the first time on February 1st at the Valencia circuit, which looks like another indication the teams’ plans for a joint launch have failed.
Read more: F1 2010 Season