The International Automobile Federation (FIA) has announced the signing of a long -term extension agreement with Formula E Holding Company, owned by Liberty Global, to continue promoting the Formula E World Championship, the first fully electric racing series for mono -seat cars.
In this context, the president of “FIA” Muhammad bin Salim said: “Extending the agreement reflects our continuous commitment to stability, innovation and growth in motorsport, and enhances the Federation’s vision to expand global participation and confirm the leadership of” Formula E “in the areas of sustainability and technology.”
The new agreement guarantees a bright future for “Formula E”, contributes to expanding its global spread, attracting more investments, and accelerating innovation in the electric car sector, especially with the escalation of the global trend towards sustainable movement.
The tournament continues to develop its cars in order to raise performance and enhance sustainability. The Gen3 EVO, which recently made a qualitative shift, has been accelerating from 0 to 60 miles in 1.82 seconds, its top speed reaches 200 mph, and consumes only half of the race capacity, while relying on highly recycled materials.
“Formula E not only amazing growth, but also has established new criteria for sustainable innovation in motorsport,” said Craig Edmondson, the Federation’s commercial president. “We trust that (Formula E) is future motors sport, and this extension enhances our ability to expand the base of the masses and make a real influence,” added CEO of Liberty Global Mike Forms.
For his part, the CEO of “Formula E”, Jeff Dodz, confirmed that the agreement allows the continued investment in the product and the presentation of exceptional races, saying: “This is a detailed step to enhance the effect of Formula E on the future of motorsport.”
Today, “Formula E” is the only electrical series that is held at the highest level of competition, with the participation of leading signs such as Porsche, Nissan, Jaguar, and Mesiri, in global cities such as Monaco, Tokyo, Shanghai and London.
According to market estimates, sales of electric cars are expected to exceed 40% of the total global market by 2030, which gives Formula I a pivotal role in developing future cars technologies and transporting them from the track to the road.
For the third year in a row, “Formula E” was classified as the best global sport in terms of environmental and societal performance and governance (ESG), which enhances its position as a global pioneer in sustainability and innovation.
