The agreement was signed at TAG Heuer’s headquarters in La Chaux-de-Fonds, Switzerland by Jean-Christophe Babin, President and CEO of TAG Heuer, and Alejandro Agag, CEO of Formula E Holdings.

“Teaming up with Formula E, the world’s top competition for electrically-powered racing cars, represents the logical next step for TAG Heuer’s ongoing commitment to motor-sports, as it draws on both our racing heritage and our commitment to sustainability,” said Jean-Christophe Babin. “An intense passion for automobiles has fuelled our technical innovation and performance since the earliest days of the brand. We patented the first dashboard chronograph in 1911, pioneered driver ambassadorship with Jo Siffert in 1969, signed on as the first ‘“non-technical” partner of a Formula One team with Ferrari in the 70s, and continued that tradition with McLaren and its drivers from 1985 to the present day. Through these and our other partnerships — Indy 500, Audi Sports at Le Mans and World Endurance Championship, and the mythical Monaco Grand Prix among them — we have pushed precision to record-breaking levels.

TAG Heuer has also been deeply involved in sustainable development for years, with for example solar roofs providing electricity in our Swiss facilities. We have an ongoing partnership with Leonardo DiCaprio and Green Cross international’s ecological initiatives. In 2010, we organised with Tesla the very first ever world tour in a 100% electric GT car and in 2011 , we signed on with the Electric Masters Kart in Paris Bercy. So Formula E is a natural fit.”

“Without doubt, TAG Heuer is the perfect partner to the FIA Formula E Championship and we are delighted to have a brand of their prestige, excellence and expertise on board for the inaugural season,” said Alejandro Agag. “TAG Heuer’s time-honoured passion for motor-sport dates backs more than 150 years and their quest to push technology to the highest level of performance epitomises the values of our Championship. As founding partner, they will bring us a global communication platform and the best of their services for teams, drivers, media and fans around the world”.

TAG Heuer Professional Timing, the timekeeping division of the renowned Swiss brand, will provide all live timings for the Championship’s 2014 season, which will take place on 10 street circuits worldwide including London, Rome, Los Angeles, Miami, Rio, Buenos Aires and Beijing. TAG Heuer will also be the exclusive watch brand to appear on track signage at all cities around the world. Stephane Linder, new TAG Heuer CEO as of June 1, added: “TAG Heuer draws inspiration from the technology, design and artistry of professional motor-racing to produce the world’s most precise, reliable and thrilling timepieces. Formula E promotes interest and investment in electric vehicles and sustainable motoring. We look forward to participating in this noble and exciting endeavour, as we share its values: innovation, performance and sustainable development. And, at the core, a deep and abiding love for the world’s fastest sport.”

Source: TAG Heuer