The best Formula One team in the world also has a new partner in the driving seat. INEOS is now sponsoring Mercedes-AMG Petronas F1 team. INEOS Chairman and Founder Sir Jim Ratcliffe said it was a fantastic engineering company. “They have consistently shown that they are at the forefront of technological innovation and human performance,” he said.

INEOS, which already owns the world’s most successful cycling team and is the British challenger for the 36th America’s Cup, believes the two companies can learn from each other to help improve performances on the race track, the road and in the water.

Lewis Hamilton is a six-time Formula One champion and is one of Mercedes’ drivers, alongside teammate Valterri Bottas.

At a press conference to announce the partnership, Sir Jim said he had only met Lewis – and his dog – for about five minutes.

“I don’t know him, but I am a great admirer,” he said. “I think he is one of the finest drivers who has ever strode the earth,” he said.

Sir Jim and Toto Wolff, Team Principal and CEO of Mercedes-AMG Petronas, began discussing a potential partnership when they met at a pre-season F1 testing in Barcelona last year.

The F1 team’s new car, with INEOS’ logo, was unveiled at the press conference.

INEOS’ name appears on the airbox above the driver’s head, the front and rear wing, as well as on the team’s clothing and drivers’ overalls.