Formula 1 for Pirelli Secures Exclusive Tire Supplier Status

As anticipated, Pirelli has secured its position as the exclusive tire supplier for Formula 1 until at least the conclusion of 2027. There are no indications of a tire competition on the horizon in the near future.

The Italian tire manufacturer’s contract extension was officially announced on Tuesday night. This latest agreement spans until the end of 2027, with an option for an additional season.

Since taking over from Bridgestone as Formula 1’s official tire provider in 2011, Pirelli has maintained this pivotal role.

Throughout this evolving 12-year journey, Pirelli has navigated through a series of changes, both in the sporting and technical aspects. This has included the development of 13-inch high degradation tires for 2011, wider tires in 2017, and the introduction of the current 18-inch rubber in 2022.

Pirelli’s Executive Vice President and CEO, Marco Tronchetti Provera, expressed his excitement in confirming this news. “We’re thrilled to extend our involvement in Formula 1 and its associated championships,” he stated. He also emphasized Pirelli’s enduring presence since Formula 1’s inception in 1950, and highlighted that with this latest renewal, the company will play a significant role throughout nearly two decades of the modern Formula 1 era.

Provera further emphasized Pirelli’s strong commitment to sustainability. He announced the introduction of FSC certification to their F1 tires starting from next year. He emphasized, “Being at the forefront of motorsport’s pinnacle until at least 2027 adds another important value dimension to our company.

Credit By Photo:autoaction.com

Pirelli successfully navigated a challenge from its previous supplier, Bridgestone, during the selection process. The contract extension, initially anticipated in Italy, was officially confirmed four races later.

Stefano Domenicali, the President and CEO of Formula 1, expressed his satisfaction at Pirelli’s continued partnership. He stated, “Since rejoining the sport in 2011, Pirelli has been an invaluable partner, supporting Formula 1 through the evolution of technology and technical regulations, and providing tires that enable thrilling racing for our fans.”

Domenicali emphasized Pirelli’s dedication to quality, innovation, and their deep understanding of the sport, all of which will be crucial as the sport approaches new regulations in 2026. He also highlighted Pirelli’s focus on sustainability, exemplified by their FSC certification, and its alignment with the shared Net Zero 2030 goal.

While acknowledging Bridgestone’s contribution as a former supplier, Domenicali dismissed the possibility of a return to tire competition in the near future. He praised Bridgestone for their commendable proposal and commitment throughout the process.

Domenicali explained the decision to maintain a sole tire supplier, citing the need to control the costs within the F1 ecosystem. He pointed out that while the previous tire competition brought benefits in terms of testing, mileage, and research, the associated costs were prohibitively high. He noted that it’s premature to consider a return to such a setup.

Formula 1 is set to resume racing with Pirelli tires at the US Grand Prix scheduled for October 20-22.

For more up-to-date motorsport news, you can find it in the latest issue of AUTO ACTION or subscribe [HERE].

Reference

autoaction.com.au/2023/10/11/pirelli-to-continue-as-formula-1s-exclusive-tyre-supplier

Leave a Comment