Yamaha Motor Signs Technical Partnership with Lola Cars for Development and Supply of Powertrains for Formula E - Aiming to acquire cutting-edge electric technology in the premier EV race series -

IWATA, March 28, 2024 - Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that it and Lola Cars Ltd (head office in the U.K., hereinafter "Lola") have signed a technical partnership agreement for the development and supply of high-performance electric powertrains to be part of an official manufacturer in the ABB FIA Formula E World Championship (hereinafter "Formula E"), the world's premier racing series for all-electric single-seater vehicles. Through this link to Formula E, Yamaha Motor will work on developing cutting-edge electric technologies with the aim of raising its expertise and capabilities in this field.

Lola is developing a vehicle package that can be supplied to racing teams competing in Formula E. Yamaha plans to develop and supply the electric powertrain (power unit), working closely in technical partnership with Lola aiming to develop and acquire the ultimate in energy management technology and the world's highest levels of power density and efficiency.

Lola is a well-established British racing car development company that has produced vehicles that have competed in numerous international automobile races. With a commitment to sustainable motorsports, the Lola aims to acquire electric racing technology by planning to develop and supply the manufacturer's perimeter compliant with Formula E homologation standards.

Yamaha has set a companywide environmental goal to achieve carbon neutrality in Scope 3* emissions by 2050. To create a more sustainable world, Yamaha will continue promoting the research and development of technologies that contribute to sustainability.

*Emissions produced from Yamaha's value chain, e.g., use of sold products.