Lola takes major stake in PACETEQ, boosting data tech and software
The fields of data technology and software will play a pivotal role not only in Lola’s motorsport activities, but also in the company’s wider strategic focus areas of electrification, hydrogen, and sustainable fuels and materials.
PACETEQ’s track record of innovation and growth at the cutting-edge of motorsport, in series including Formula 1, WEC, and Formula E, as well as the recently launched A2RL autonomous racing championship, offers a clear demonstration of the competitive advantage that its services will bring to Lola.
The backing of the world-famous Lola brand, meanwhile, will serve to amplify PACETEQ’s already stellar reputation as the go-to expert for motorsport software and data solutions, while exposing the PACETEQ team to novel and exciting technologies at the frontier of mobility and sustainable motorsport.
Till Bechtolsheimer, Chairman, Lola Cars: “I am delighted to confirm that Lola’s return to motorsport will be supported by one of the world’s foremost racing data and software providers. Our investment in PACETEQ is an essential element of our strategy, not only to return to the forefront of modern motorsport as a leader in design and engineering, but to take strides in the field of software enabled vehicles. As we focus on alternative powertrains and sustainable materials, we need machine learning software and AI-powered data solutions that are equally forward-looking.
“As an investment, PACETEQ has demonstrated a number of key strengths. Although it has experienced significant growth, it has remained agile and innovative – always taking an intelligent approach to solving customer challenges. Gaining immediate access to its in-house expertise provides Lola with a compelling competitive advantage, without the need to start from square one. We are excited to see how the company evolves over the coming years and are proud to drive that journey as investors.”
Alexander Bodo, CEO, PACETEQ: “We are thrilled that Lola Cars has decided to invest in PACETEQ and our shared vision. We very much look forward to supporting Lola’s ambition to become a world leader in racing. The brand is a motorsport icon and one of the world’s oldest racing car manufacturers. Its return as a herald for more sustainable motorsport is an exciting prospect. We look forward to the technical challenges that this partnership will bring.”
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