The new name of the British professional cycling team is based on the owner of Ineos Sir Jim Ratcliffe’s upcoming SUV car, the Grenadier, with its new brand at the official launch in the week before the Tour de France in Nice.
An INEOS spokesperson said: “The INEOS team has confirmed today that it will become the INEOS Grenadiers, from the start of the Tour de France on August 29, 2020.
“The change will align the team with the Grenadier, a functional 4 × 4 vehicle designed, engineered and manufactured by INEOS Automotive.
“In 2017, INEOS President Sir Jim Ratcliffe, car enthusiast and seasoned adventurer, identified a gap in the market for a stripped down, utility and hardworking 4 × 4 vehicle built on purpose. The design of the Grenadier was unveiled in July 2020 and will go into production at the end of 2021. “
According to BBC Sport, Ineos, which is primarily a chemicals company, is Britain’s largest privately-held company, with pre-tax profits of £ 2 billion in 2018. In addition to being associated with cycling, the company is also widespread in Formula 1 with Mercedes-AMG Petronas as a main partner while owning Ineos UK team, a British sailing team.
The Grenadiers are expected to launch a new kit and color scheme ahead of his debut, marking the team’s second transition in just over a year after rebranding from Team Sky to Team Ineos in April 2019.
Insider Insight: Ineos’ decision to launch its new brand before the Tour de France will give a better view of the chemical company’s latest project. Moreover, by pairing one of the biggest cycling organizations with the car model, it will provide easy marketing opportunities for both entities.