Friday, August 31, 2012

Electric Power Comes To Formula-Type Racing

Published August 31, 2012

By Philippe Crowe

Electric-powered race cars will be competing in a newly created championship to be known as Formula E.

The Fédération Internationale de l'Automobile (FIA) has reached an agreement this week to license the commercial rights of the FIA Formula E Championship to a consortium of international investors, Formula E Holdings Ltd (FEH).

Formula E is a new FIA championship featuring Formula cars powered exclusively by electric energy. The FIA says it represents a vision for the future of the motor industry over the coming decades.

FEH, the new promoter, has as anchor investor London-based entrepreneur Enrique Bañuelos, and as CEO and shareholder former MEP and racing team owner Alejandro Agag, who has a long experience in the motor sport business. Also associated with the project are Lord Drayson, Managing Partner of Drayson Racing Technologies, and Eric Barbaroux, Chairman of the French electric automotive company "Electric Formula."

Demonstration runs of the Formula E cars will start in 2013, followed by the championship in 2014 with an objective of 10 teams and 20 drivers participating in the competition. The races will be ideally staged in the heart of the world’s leading cities, around their main landmarks.

“I would like to thank all the parties involved” said Jean Todt, President of the FIA. “This new competition at the heart of major cities is certain to attract a new audience. We are pleased with this agreement with Formula E Holdings as they bring a very strong experience in motor sport. This spectacular series will offer both entertainment and a new opportunity to share the FIA values and objectives of clean energy, mobility and sustainability with a wider and younger audience as well.”

The series will be open to any cars sanctioned as Formula E by the FIA. The consortium will ensure that a Formula E Car, based on the Formulec EF 01 prototype already in operation, is available for those competing teams willing to race with it.

More information can be found on the newly created FEH Web site.


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