New FIA Formula E Championship Powered by electric energy
The Federation Internationale de l'Automobile (FIA) has reached an agreement to licence the commercial rights of the FIA Formula E Championship to a Consortium of international investors.
Formula E is a new FIA championship featuring Formula cars powered exclusively by electric energy. It represents a vision for the future of the motor industry over the coming decades.
The new promoter, the consortium Formula E Holdings Ltd (FEH) has as anchor investor London based entrepreneur Enrique Bañuelos. Former MEP and racing team owner Alejandro Agag, with long experience in the motor sport business, will be the CEO of FEH, as well as shareholder of the company. 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".
Demonstrations 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.
Jean Todt, President of the FIA said: " I would like to thank all the parties involved. 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 MotorSport. The new events will provide a great way to engage the younger generation. This spectacular series will offer both entertainment and a new opportunity to share FIA values with a wide audience as clean energy, mobility and sustainability. This is a great day and a strong message to the motor sport community. The FIA is definitely looking to the future!"
Alejandro Agag, CEO of FEH said: "We are very pleased with the agreement reached with FIA. We see this as a great opportunity to create a new and exciting spectacle mixing racing, clean energy and sustainability, looking to the future. We expect this Championship to become the framework for research and development around the electric car, a key element for the future of our cities"
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.
Notes to editors: Contact: For further information on Formula E Holdings or to arrange an interview with Alejandro Agag please contact Springtime:
Aron Samuelsson [email protected] +46735051389
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Formula E Holdings:
A Hong Kong based Consortium of international investors has reached an agreement with the FIA to exclusively promote the new FIA Formula E Championship.
The new promoter, the consortium Formula E Holdings Ltd (FEH) has as anchor investor London based entrepreneur Enrique Bañuelos. Former MEP and racing team owner Alejandro Agag, with long experience in the motor sport business, will be the CEO of FEH, as well as shareholder of the company. 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".
Formula E is a new competition, under the auspices of the International Federation of Automobile (FIA). The Formula E cars are exclusively powered by electric energy. The Consortium will place special emphasis on technology, promoting investments, in and around the championship, on developments than can then be exported to day to day uses by the general public.
The consortium is composed of a number of investors, amongst others former MEP and racing team owner Alejandro Agag.
The first race will be held in 2014. There will be 10 Electric Formula Teams, and 20 drivers competing.
All races will be held in city centres, around their main landmarks. No combustion pollution and limited noise pollution make this competition ideal for that environment.
Formula E Holdings Ltd. will focus on emerging markets to develop the Championship. Establishing the base in Hong Kong reflects that strategy. China in particular is investing enormous efforts in the promotion of the EV use, as a way to contribute to solve the pollution problem in their cities.
The Championship will be open from year 1. Any car homologated as a Formula E by the FIA will be able to take part in it.
In order to secure that there will be cars racing on 2014, the Consortium has reached a deal with French electric car technology company Formulec. A Formula E car based on the Formulec F 01 prototype already in operation will be made available to those teams entering the Championship that chose so.
In the next months, The FIA will allocate, at proposal of the Promoter, 10 entries to Teams for the Championship. The promoter expects the Formula E Teams to come from 3 different areas: traditional car racing teams, electric car companies, and global brands willing to take part in a sustainable and highly visible sporting event.
The process of selection of the cities that will hold the Electric Grand Prix has already started. The Consortium aims to hold races in cities that have as a priority the environment, and the promotion of clean mobility. The target of the promoter is to have races in 4 continents in 2014.
Formulae E Holdings is located at 6th Floor, ING Tower 308 Des Voeux Road Central, Hong Kong with representative offices in London 8th Floor, 25 Berkeley Square, London, W1J 6HN www.formulaeholdings.com