London-based
Lola Cars Ltd, the ‘most successful manufacturer of customer race cars of all time’ and working to become an industry leader in sustainable engineering and motorsport, with a focus on the areas of electrification, hydrogen and sustainable fuels and materials, has become a major stakeholder in
Paceteq, a German data technology and software company.
Paceteq’s ‘track record’ of innovation and growth in motorsport, includes involvement in Formula One, WEC, and Formula E, as well as the recently launched A2RL autonomous racing championship — and its successes are said to offer ‘a clear demonstration of the competitive advantage that its services will bring to Lola’.
Till Bechtolsheimer, Lola Cars’ chairman, said: “I am delighted to confirm that Lola’s return to motorsport will be supported by one of the world’s foremost racing data and software providers. Our investment in Paceteq is an essential element of our strategy, to not only return to the forefront of modern motorsport as a leader in design and engineering but also take strides in the field of software-enabled vehicles. As we focus on alternative powertrains and sustainable materials, we need machine learning software and AI-powered data solutions that are equally forward-looking.
“As an investment, Paceteq has demonstrated several key strengths. Although it has experienced significant growth, it has remained agile and innovative, and gaining immediate access to its in-house expertise provides Lola with a compelling competitive advantage without needing to start from square one.”
Alexander Bodo, Paceteq’s CEO, concluded: “We are thrilled that Lola Cars has decided to invest in Paceteq and our shared vision. We very much look forward to supporting Lola’s ambition to become a world leader in racing. 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.”