The Swiss engineering giant ABB has agreed to become the main sponsor of the environmentally friendly Formula E racing series until 2025.
Formula E will hold a race in Zurich, Switzerland on June 10, marking the first time international motor racing returns to the country since it was banned there in the 1950s.
Since its first race in Beijing in September 2014, Formula E has established itself as the number one all-electric international motor sport. Swiss driver Sebastien Buemi was Formula E's second champion in the 2015-16 season and the championship is also sponsored by Swiss bank Julius Baer.
ABB, which specialises in electrification products, robotics, industrial automation and power grids, has the world's largest base of fast-charging stations for electric vehicles.
"We are extremely excited to partner with Formula E in writing the future of e-mobility," ABB CEO Ulrich Spiesshofer said in a statement on Tuesday.
"ABB and Formula E are a natural fit at the forefront of the latest electrification and digital technologies."
The fourth edition of the ABB FIA Formula E Championship will see 10 teams and 20 drivers compete in 11 cities spanning five continents. The first Formula E race of the year takes place in Morocco on January 13. The 2018 championship ends in July