PARIS—The Fédération Internationale de l'Automobile (FIA) has extended Pirelli Tyre's status as the designated race tire supplier to the FIA's Formula 1, 2 and 3 open-wheel racing series for three more years, through 2027.
The FIA's decision, which concludes a search process announced in March, includes an option for one additional season past 2027, according to Pirelli, which has been the series' sole race tire supplier since 2011.
The FIA did not disclose whether other tire makers submitted bids for the contract. Various motorsports media, however, reported that Bridgestone Corp.—which was a Formula 1 tire supplier for the 1997 through 2010 seasons—had submitted a competing bid.
Financial terms of the agreement, which was ratified by the FIA World Motor Sport Council, were not disclosed. Pirelli only recently declined to continue as the sole designated tire supplier to the FIA's World Rally Championship, saying it had "achieved the targets set three years ago at the start of the current contact."
In a prepared statement, Marco Tronchetti Provera, executive vice-president, said: "Innovation and technology are locked into Pirelli's DNA, and Formula 1 constitutes the ultimate open-air laboratory to not only try out and test new technical solutions, but also to accelerate fresh research, development and production processes in making tires."
Pirelli also noted that starting in 2024, it will ensure that all tires used in F1 races will be FSC (Forest Stewardship Council) certified, indicating that all forest-based materials used in the production of the race tires come from suppliers that follow business practices that preserve biological diversity and bring benefits to the lives of local communities and workers, while fostering economic sustainability.
"Our commitment to sustainability is equally strong," Tronchetti Provera said, "as proved by the FSC certification that will be introduced to our F1 tires from next year. Being at the forefront of motorsport's pinnacle until at least 2027 adds another important value dimension to our company."