The Fédération Internationale de l'Automobile (FIA) announced this week that it has reached an agreement 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. It represents a vision for the future of the motor industry over the coming decades.
In addition, Rio de Janeiro has officially signed up to host one of the events in 2014.
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.
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.
For more information, visit the FEH website at www.formulaeholdings.com.