Lola Cars becomes a major stakeholder in Paceteq
Lola Cars has become a major stakeholder in Paceteq, one of automotive industry’s foremost data technology and software companies. The investment will give Lola access to knowledge and expertise critical to the brand’s ambitions to re-establish itself as a sustainable engineering and motorsport company.
Data technology will play a crucial role in Lola’s motorsport activities and the company’s strategic focus areas of electrification, hydrogen, and sustainable fuels and materials.
Paceteq has a track record of innovation and growth at the cutting edge of motorsport, in series including Formula 1, WEC and Formula E, as well as the recently launched A2RL autonomous racing championship.
The backing of the world-famous Lola brand will bolster Paceteq’s reputation as the go-to expert for motorsport software and data solutions, while exposing the team to novel and exciting technologies.
Till Bechtolsheimer, the chairman of Lola Cars, said, “As an investment, Paceteq has demonstrated a number of key strengths. Although it has experienced significant growth, it has remained agile and innovative – always taking an intelligent approach to solving customer challenges.”
Alexander Bodo, the CEO of Paceteq, added, “The brand is a motorsport icon and one of the world’s oldest racing car manufacturers. Its return as a herald for more sustainable motorsport is an exciting prospect. We look forward to the technical challenges that this partnership will bring.”
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