LG Extends Formula 1™ reach to Virgin Racing

Seoul (Korea Newswire) August 12, 2010 -- LG Electronics (LG), a global leader and technology innovator in consumer electronics, has extended its reach within Formula One™ to include the Virgin Racing team.

In addition to LG being a Global Partner and a Technological Partner of Formula 1™ since the start of the 2009 season, the electronics company is now an official supplier to Virgin Racing, as well as Lotus Racing and engine manufacturer Cosworth.

“Formula 1 is a fast-growing global sport. The region is becoming increasingly interested in the Formula 1 and motorsport in general. In the past few years, cities such as Abu Dhabi and Manama have become major stops on the global circuit. The sponsorship is both recognition of this fine sport, and an alignment with the important role played by technology,” said Mr. H.S Paik, President of LG Electronics Gulf FZE.

LG adds Virgin Racing to its support programme through the supply of products at track and at the team’s factory. Virgin Racing entered the FIA Formula One World Championship™ this season as one of three new teams, bringing one of the world’s best known multi-service brands to the sport.

Graeme Lowdon, CEO of Virgin Racing, commented: “We are delighted to have teamed up with LG. Not only do they have an incredible range of products in their portfolio, but they are pioneers of cutting edge technology, making Virgin Racing a perfect partner for them. Virgin Racing is already utilising LG products, not only at Grand Prix but back at our factory in Dinnington as well, making this a fully integrated partnership and one which we hope will continue for many years to come.”

This latest move by LG continues its interest in supporting the smaller, younger teams as they find their feet at the pinnacle of motorsport.