Sugar Company Becomes Main Sponsor Of Formula E 2023

Residents passed next to a replica of the Formula E electric racing car exhibited at the HI Roundabout, Jakarta, Sunday (26/3/2023).. BETWEEN PHOTOS/M Risyal Hidayat/nz

JAKARTA - PT Jakarta Propertindo (Jakpro) announced that sugar company Gulavit will be the main sponsor of the implementation of Formula E 2023 which will be held on June 3 and 4.

President Director of PT Jakpro Iwan Takwin said that the interest of sugar companies to become the main sponsor shows that the Formula E business to business (B2B) scheme can bring benefits, both for Jakpro and the sponsor himself.

"We are very pleased to welcome Gulavit as the main sponsor for Jakarta E-Prix 2023. The partnership between the two institutions is based on a business to business (B2B) scheme that brings benefits to both companies, not only on marketing opportunities for product exposure to local markets but also to international markets," Iwan said in his statement, Monday, May 29.

Separately, the Chairperson of the Organizing Committee for the Formula E 2023 Committee, Ananda Mikola, said that the majority of sponsors who were successfully sued to participate in funding this electric car racing event came from the private sector.

"The majority are private. There are banks, sugar companies, the food product sector, there is also a holding group," said Ananada when contacted.

Ananda said that her party still hopes that state-owned enterprises (BUMN) will also look to sponsor the Formula E race. Several SOEs that are currently being lobbied by the committee and Jakpro include Mandiri and BRI.

However, Ananda emphasized that there are limits for parties who can sponsor Formula E in each category of companies. Given, there are a number of global sponsors brought by Formula E Operation (FEO) at all racing events in each country.

"In Formula E, there are also restrictions because Form E has also been sponsored by international banks. There is Julius Baer. So, there are indeed a few limitations. We can't do more than 3 bank products in this event," he explained.