Pioneer Announces Technical Partnership With Jaguar Racing Team
FARMINGTON HILLS, Mich., March 18 -- Pioneer Automotive Electronics Sales Inc. is pleased to announce that it has entered into a multi-year technical partner agreement with Jaguar Racing, a division of the Ford Motor Company, beginning with the 2003 Formula One Season. Pioneer has more than half a decade of previous involvement with Formula One racing, and decided to rejoin the F1 excitement as part of its commitment to the Ford Motor Company and because of the momentum behind the young Jaguar Racing Team.
Jaguar Racing enters its fourth Formula One season in 2003 with 80 years of racing experience. Jaguar's F1 team features Australian driver Mark Webber and Brazilian driver Antonio Pizzonia in a two-car team using the new R4 chassis and Ford-Cosworth engine. Pioneer will join Michelin(TM), Castrol(TM) and Lear(TM) as technical partners at Jaguar Racing.
"Pioneer has a long-standing relationship with the Ford Motor Company and as a part of that association, we are thrilled to offer our support as a technical partner of the Jaguar Racing team," said Steven Moerner, president and CEO of Pioneer Automotive Electronic Sales, Inc. "The F1 series is high- tech, innovative racing where the teams handle the majority of development, designing, testing and racing of their own open-wheeled, open-cockpit, rear- engine cars. As a high-tech leader in the electronics industry, it's exciting for Pioneer to be able to offer our support to the Jaguar team -- all in an effort to make 2003 a winning season for Jaguar Racing."
Pioneer has a 30-year history of supporting motor sports events, including: IMSA, NHRA, Formula One, Rallies, CART and the Indy Racing League. For the 2003 racing season, Pioneer is supporting Mo Nunn Racing and Team Rahal in the Indy Racing League as well as Jaguar Racing in Formula One.
"The new relationship that has been created by Pioneer and Jaguar Racing further demonstrates the two global companies can work together in a multinational arena using sport as an active marketing tool. Jaguar Racing hopes to create benefits that will lead to good business to business opportunities during the period of the relationship," said Sir Jackie Stewart, non-executive director, Jaguar Racing.
Pioneer Automotive Electronics Sales, Inc., headquartered in Farmington Hills, Mich., is the marketing arm for OEM car electronics products for Pioneer North America. The company continues to utilize the strength of its brand name in the aftermarket to secure additional OEM business, bringing innovative audio, video and information products to automobile manufacturers.
Its parent company, Pioneer Corporation, is a leader in optical disc technology and a preeminent manufacturer of high-performance audio, video and computer equipment for the home, car and business markets. The company focuses on four core business domains including DVD, display technologies, Digital Network Entertainment(TM) and components. Founded in 1938 in Tokyo, Pioneer Corporation employs more than 31,000 people worldwide. Its shares are traded on the New York Stock Exchange . Pioneer's U.S. headquarters is located in Long Beach, Calif., and its U.S. Web address is www.pioneerelectronics.com .
For further information, please contact: Amy Friend, +1-310-952-2507, afriend@pioneer-usa.com, for Pioneer Automotive Electronics Sales Inc.
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