LONDON: Formula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship deal with British billionaire Jim Ratcliffe's petrochemicals giant Ineos.
Mercedes' parent Daimler said in November it would cut at least 10,000 jobs and reduce staff costs by around 1.4 billion euros by the end of 2022, but Wolff said Formula One worked for the carmaker. "This is an exercise that costs little in comparison to the billions of marketing value that are being generated," he added, pointing to data that showed the average Mercedes customer was getting younger.
"This is my personal aim and contribution with our partners to turn this into such a company so that from a Mercedes standpoint it becomes a no-brainer to participate," he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ineos joins Mercedes F1 team as principal partnerFormula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Ineos joins Mercedes F1 team as principal partnerFormula One champions Mercedes sent a statement of intent about their future on Monday with the announcement of a five-year principal sponsorship ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Futures tread water as investors weigh coronavirus impactU.S. stock index futures were flat on Monday after Wall Street's rise last week, with investors monitoring the economic impact of the coronavirus ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: That low-carbon future for Singapore isn’t so far-fetchedThere are multiple scenarios of a low-carbon transition for Singapore which does not preclude the petrochemical and refining industry altogether, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China women's team secure Tokyo Olympic slotREUTERS: China secured their slot in this year's women's Tokyo Olympics basketball tournament by edging European champions Spain 64-62 in a tense ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
WHO-led coronavirus probe team leaving for China on Monday or TuesdayGENEVA: A World Health Organization-led international team investigating the coronavirus outbreak will leave for China on Monday or Tuesday, WHO ... WHO better ask CCP count the cases carefully and report number of deaths truthfully please.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »