By Sam Bridge
Neom will be the founding partner to the Mercedes-Benz EQ FE Driver Development Programme, due to start in 2021
Neom Company, the $500 billion city of the future being built in Saudi Arabia, has signed an agreement to become a partner of the Mercedes EQ Formula E racing team.
The partnership begins a multi-season relationship with the Mercedes-Benz EQ Formula E Team with Neom as a new principal partner.
The development of young racing drivers is a key element of the deal while the partnership will also provide secondment and development opportunities for selected Saudi nationals, who work closely with the racing team and further qualify as engineers and software developers.
Neom will also be the principal and founding partner to the Mercedes-Benz EQ FE Driver Development Programme, which will start in early 2021.
Nadhmi Al-Nasr, CEO of Neom, said: "We are delighted to partner with Mercedes-Benz EQ Formula E team. We are always open to develop partnerships in which innovation is seen as the key to creating a sustainable future.
"We encourage everyone to think of Neom as a living laboratory where they can experiment and develop new technologies in collaboration with us and others."
Toto Wolff, head of Mercedes-Benz Motorsport, added: "We consider our involvement in motorsport as critical in pioneering innovation, and we look forward to developing this collaboration with our new partner, Neom."
The high-tech city, unveiled in 2017, will feature ground-breaking technology and renewable energy infrastructure within its key sectors.
Its economic hubs will focus on the future of energy, water, tourism, media, health, wellbeing, sport, food, mobility, biotech, manufacturing, and livability. Driving innovation across these industries is part of the kingdom’s vision to wean its economy away from oil.