Perficient Launches ‘Electrifying the Future of Automotive’ Program to Support Collegiate Formula SAE Teams

Rhea-AI Summary

Perficient, Inc. (Nasdaq: PRFT) has announced the launch of its Electrifying the Future of Automotive program, aimed at empowering college students to innovate in automotive design and construction for Formula SAE competitions. This initiative focuses on electric vehicles (EVs) and selects eight collegiate teams to sponsor, including notable universities like The Ohio State University and University of Michigan. Upcoming competitions will take place at Michigan International Speedway with 120 teams in Formula SAE IC and 75 teams in Formula SAE Electric. Perficient's automotive experts will engage with students to share insights and foster career opportunities, reinforcing its commitment to digital transformation in the EV space. This initiative reflects Perficient's strategy to drive innovation in the automotive industry.

Positive

• Launch of the Electrifying the Future of Automotive program to support student innovation.
• Sponsorship of eight collegiate Formula SAE teams, enhancing brand visibility and engagement.
• Commitment to digital transformation in the automotive sector aligns with emerging EV trends.

Negative

• None.

ST. LOUIS--(BUSINESS WIRE)-- Perficient, Inc. (Nasdaq: PRFT) (“Perficient”), the leading global digital consultancy transforming the world’s largest enterprises and biggest brands, today announced the launch of its Electrifying the Future of Automotive program. The program aims to empower college students to design, build, and race the next generation of formula-style racing cars, including electric vehicles (EVs), in national and global Formula SAE competitions.

The future of automotive innovation is electric, and college students are helping accelerate the transition to EV by participating in Formula SAE, a program of SAE International (previously known as Society of Automotive Engineers). Formula SAE challenges teams to innovate and develop vehicles over several months for competition.

As part of the Electrifying the Future of Automotive program, Perficient’s automotive industry experts will meet with students to share how manufacturers work with digital consultancies like Perficient, discuss career opportunities, tour team garages, and support each team as they compete.

Perficient has chosen to support eight Formula SAE collegiate teams from notable universities with innovative automotive programs. Perficient selected teams that are either racing EVs or are currently racing vehicles with internal combustion (IC) engines and are actively working towards their first-ever EV. The Perficient-sponsored Formula SAE teams include the following:

• The Ohio State University – Formula Buckeyes
• Northwestern University – Northwestern Formula Racing
• Washington University in St. Louis – WashU Racing
• University of Minnesota, Twin Cities – Gopher Motorsports
• University of Michigan, Ann Arbor – MRacing
• Colorado State University – Ram Racing
• University of California, Riverside – Highlander Racing
• Texas A&M University – Texas A&M Racing

All eight Perficient-sponsored teams will compete in two upcoming races at the Michigan International Speedway. Formula SAE IC will take place May 17-20 with 120 student teams competing, while Formula SAE Electric will occur June 14-17 with 75 teams.

“We’re excited to introduce the Electrifying the Future of Automotive program and innovate alongside the next generation of industry leaders,” said Keith Tomatore, automotive and mobility practice lead, Perficient. “We’re helping the leading automotive manufacturers digitally transform their business for an electric future. The research, growth, and learnings these Formula SAE teams achieve are critical to driving innovation, and Perficient is committed to investing in and accelerating those efforts.”

Having served more than 150 leading OEMs, dealers, suppliers, and emerging mobility companies globally, Perficient’s automotive industry experts champion a digital-first, customer-driven approach to connected vehicles, electrification, omnichannel commerce, and the future of transportation.

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About Perficient

Perficient is the leading global digital consultancy. We imagine, create, engineer, and run digital transformation solutions that help our clients exceed customers’ expectations, outpace competition, and grow their business. With unparalleled strategy, creative, and technology capabilities, we bring big thinking and innovative ideas, along with a practical approach to help the world’s largest enterprises and biggest brands succeed. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. For more information, visit www.perficient.com.

Safe Harbor Statement

Some of the statements contained in this news release that are not purely historical statements discuss future expectations or state other forward-looking information related to financial results and business outlook for 2023. Those statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on management’s current intent, belief, expectations, estimates, and projections regarding our company and our industry. You should be aware that those statements only reflect our predictions. Actual events or results may differ substantially. Important factors that could cause our actual results to be materially different from the forward-looking statements include (but are not limited to) those disclosed under the heading “Risk Factors” in our most recently filed annual report on Form 10-K and other securities filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005697/en/

Connor Stieferman, Communications Manager

314-529-3595

Connor.Stieferman@perficient.com

Source: Perficient, Inc.

FAQ

What is Perficient's Electrifying the Future of Automotive program?

It is an initiative to empower college students to design and race next-gen formula-style cars, focusing on electric vehicles.

Which universities are sponsored by Perficient in the Formula SAE competition?

Perficient sponsors teams from The Ohio State University, Northwestern University, Washington University, University of Minnesota, University of Michigan, Colorado State University, University of California, Riverside, and Texas A&M University.

When are the upcoming Formula SAE competitions?

Formula SAE IC will take place from May 17-20, and Formula SAE Electric will be held from June 14-17.

How does Perficient engage with sponsoring teams?

Perficient's automotive experts collaborate with students to provide insights on industry practices and career opportunities.

What is the significance of the Electrifying the Future of Automotive program for investors?

The program demonstrates Perficient's commitment to innovation and leadership in the EV market, potentially enhancing its market position.