FIA Strikes a Commercial Deal For Formula E; 2014 Debut Looks Good
We all knew that the Formula E series was on the cusp of becoming a reality, as its plans outlined a 2014 debut. Despite the planning, there simply wasn’t the funding available to get the series going. The key word here is “wasn’t,” as the FIA has just inked a commercialization deal to form Formula E Holdings (FEH), which better assures the 2014 debut of the all-electric racing series.
The new promoter of the Formula E series is now FEH. FEH’s anchor investor is a London-based businessman by the name of Enrique Bañuelos. Alejandro Agag takes the reigns as FEH’s CEO overseeing Formula E. There are other folks with significant involvement with the project, including: Lord Drayson, Managing Partner of Drayson Racing Technologies, and Eric Barbaroux, Chairman of the French electric automotive company "Electric Formula."
We will start seeing test runs of Formula E in 2013 and its debut is pretty much set in stone for 2014. While the cars are super fast – 0 to 60 in three seconds and a 137 mph top speed – they can only run on a single charge for about 25 minutes. This lack of longevity means that each team will have to field two cars and two drivers. Instead of stopping for fuel, as seen in other racing series, teams will be pitting to swap cars and drivers. It’ll be interesting to see how teams streamline this process and still remain within the series’ rules.
We can’t wait to see what this series has to offer and the kind of technology that it will eventually lend to typical street cars. We’ll keep a close eye on the development of the Formula E series and keep you updates.
Click past the jump to read the full press release.