Lowe's out, Ally in as main sponsor for NASCAR star

CHARLOTTE, N.C. — Lowe’s Cos. Inc. has long been a prominent name in NASCAR as primary sponsor of Jimmie Johnson’s No. 48 Chevrolet. But that’s changing next season, as Ally Financial Inc., another firm with deep ties to the Charlotte region, takes over that position.

The Mooresville-based home-improvement retailer has backed Johnson, a seven-time champion, for 18 years, according to a report on NASCAR.com.

Locally based Hendrick Motorsports and Ally announced the two-year deal in a joint statement last Sunday. It begins next season, putting the financial-services company out front on Johnson’s ride for all 38 races, including exhibitions, in NASCAR’s premier Monster Energy Cup Series for both the 2019 and 2020 seasons. ESPN notes Johnson, 43, is signed with the Hendrick team through 2020.

Ally, though headquartered in Detroit, maintains a high profile in Charlotte, where many of its top executives, including CEO Jeffrey Brown, are based.

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