Fashion brand Hugo Boss, a long lasting F1 sponsor, will put an end to its association with Grand Prix racing in favour of an involvement in Formula E.
The German company has enjoyed a multi-decade presence in F1, notably with McLaren during the Woking-based outfit's most successful era in the nineties.
But Formula E's growing visibility, as well as Mercedes' engagement in the burgeoning all-electric series alongside other high profile manufacturers such as Audi and Porsche has made a switch compelling.
"Of course Formula 1 is the top class of motor racing, but Formula E is more innovative and sustainable," said Boss chied executive Mark Langer.
"The engines, the races in major cities, that’s something a younger audience likes, which offers new opportunities."
Langer insisted that the decision to move to Formula E was not dictated by costs alone.
"After many years in Formula 1, ever since Jochen Mass in the 1970’s, we have been thinking what is the next thing?"
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