Teijin and Envision Virgin Racing Announce Multi-Year Partnership

TOKYO,Jan. 29,2020 -- The Teijin Groupand Envision Virgin Racingjointly announced today thatthey have agreed a multi-year sponsorship contract which will support the team's participation in the ABB FIA Formula E Championship.

Teijin partners with EVR in Formula E

Envision Virgin Racing has been competing in the all-electric Formula E race series since its inception,becoming one of the sport's most successful teams with 11 wins and 26 podiums,and energizing its "Race Against Climate Change" initiative,while pursuing further sustainable mobility solutions.

Headquartered in Japan with over 170 companies worldwide,Teijin is a leading technology-driven global group,operating in the fields of advanced fibers,plastics,composites,healthcare and IT businesses.

The Teijin Group and Envision Virgin Racing are now committed to exchanging know-how and complementing each other's state-of-the-art technologies. In particular,the Teijin Group will develop high-performance materials and products that will help improve the comfort of Envision Virgin Racing drivers. In the future,Teijin will also explore new business opportunities through the development and provision of lightweight,high-performance automotive components,leveraging the freedom of design that will be required for next-generation automobiles.

Teijin will also take the opportunity of this sponsorship agreement to raise awareness of the Teijin brand in related industries.

"Through ceaseless evolution and ambition,we are aiming to be a company that supports the society of the future by creating new value," said Jun Suzuki,President and CEO of Teijin Limited.He added,"By supporting Envision Virgin Racing,which competes in races with electric vehicles (EVs) as a means of raising awareness of global warming,we will develop technologies and accumulate the know-how and solution capabilities required for future EVs that satisfy ever-stricter environmental regulations."

The team's Managing Director Sylvain Filippi commented: "Formula E is one of the most competitive motorsport series there is,meaning any advantage that can be gained is crucial. To ensure we have this,Envision Virgin Racing aligns with like-minded,innovative,climate-focused brands and hence why we're very excited to have The Teijin Group join our family. Being able to tap into their wealth of expertise and composite technologies will help us on track,whilst away from the track we're looking forward to working together on our Race Against Climate Change program."

Franz Jung,Chairman of the Board of Envision Virgin Racing,added: "Everyone is delighted to be welcoming The Teijin Group to the team,and for them to be joining our ever-growing list of world class partners,all of whom help us achieve the success we generate both on and off track."

Launching in 2014,Formula E is the world's first fully-electric single-seater racing series,competing on city center circuits throughout the globe. The championship represents a vision for the future of the motor industry,serving as a platform to showcase the latest innovations in electric vehicle technology and alternative energy solutions.

The next Formula E race takes place in Mexico City on February 15,where The Teijin Group will officially commence its full support for the UK-based team.

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