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LGT becomes new sponsor of the Formula E team ABT Schaeffler Audi Sport

October 19, 2015

LGT, the international private banking and asset management group, is the new partner of the German Formula E team ABT Schaeffler Audi Sport. The FIA Formula E Championship is the first international racing series for vehicles with electrical motors. The collaboration between the two family-owned companies LGT and ABT will begin with the season opening at the end of October in Beijing.

LGT Sponsoring ABT Schaeffler Audi Sport
H.S.H. Prince Max von und zu Liechtenstein, CEO LGT (right), and Hans-Jürgen Abt, CEO ABT Sportsline (left), signing the new sponsorship agreement.

The commitment to Formula E marks LGT’s first sponsorship in the motor sport segment. “Formula E is a highly interesting project. The new racing series stands for progressive thinking and innovative sustainable technologies”, says H.S.H. Prince Max von und zu Liechtenstein, CEO LGT. “These are factors that we identify strongly with and that play an important role in our corporate culture.” Initially, LGT will support the German team ABT Schaeffler Audi Sport, from Kempten in the Allgäu, and its drivers Daniel Abt and Lucas di Grassi, for the next two seasons.

Two family-owned companies – one successful partnership

ABT and LGT are family-owned companies with a very long history. ABT Sportsline is currently under the leadership of the fifth Abt family generation, while LGT has been owned by the Princely Family of Liechtenstein for over 80 years. “Our two enterprises are a very good fit. As family-owned companies we both place great importance on tradition, stability and a long-term approach – but an innovative and entrepreneurial spirit nevertheless prevails at both”, says H.S.H. Prince Max von und zu Liechtenstein.

Building on the successes of the first season

The collaboration between ABT and LGT will begin with the opening of the Formula E season on 24 October 2015 in Beijing. Hans-Jürgen Abt, CEO ABT Sportsline, is also pleased about the new partnership: “Our start in the Formula E Championship last year was a complete success. Our goal at the outset was to win races and to be a serious contender for the championship – we achieved both. With LGT as a sponsor, we now have a further reliable partner by our side, one that shares our values and helps us to build on the successes of the first season.” ABT Sportsline is the only German team in the Formula E Championship. With their new vehicle model ABT Schaeffler FE01, the company from Kempten wants to be once again a top contender in the 2015/2016 season. “Our fans and partners can look forward to an exciting season”, promises Hans-Jürgen Abt.

A brand new initiative

The FIA Formula E is the first international racing series for vehicles with electrical motors. The championship, which was launched last year, will be held in ten key cities around the world over the course of ten months. Ten teams with two drivers each participate in the races, and at the end of the season, the best driver and the most successful team are declared. The 2015/2016 season begins in Beijing on 24 October 2015, and ends with the race in London on 3 July 2016.