Formula E, FIA and All Teams and Manufacturers Agree on Cost-saving Measures Amid Global Coronavirus Pandemic
– Unanimous support from teams and manufacturers for cost-saving measures to promote long-term financial stability of championship amid global coronavirus pandemic
– Formula E, the FIA, and all teams and manufacturers collectively agree to delay the launch of the Gen2 EVO car until 2021/22 ABB FIA Formula E World Championship
– Changes to the technical regulations will cut development costs over the next two seasons in half with manufacturers limited to a single car homologation
PARIS, FRANCE (April 9, 2020) – Formula E and the FIA have today confirmed that the championship will reduce the financial burden on its teams amid the global health crisis by lowering development costs.
As part of the plans to reduce costs, Formula E, the FIA, the teams and manufacturers unanimously agreed to postpone the launch of the Gen2 EVO car until the 2021/22 ABB FIA Formula E World Championship.Following an e-vote, the FIA World Motor Sport Council (WMSC) ratified the decision to extend the homologation period, with manufacturers only able to alter powertrain components once over the next two seasons.
Teams can either introduce a new car in season seven, for a two-year cycle, or continue to use existing technology for the next season before homologating a new car the year after for a single season.
After discussion with manufacturers, the changes to the technical regulations have been made with the long-term financial stability of championship participants in mind.
Formula E and the FIA have taken a flexible and collaborative approach to decreasing spending, which will see car development costs cut by half over the next two seasons.
In addition to supporting its immediate community, Formula E is committed to finding more ways to fight the global health crisis and help others affected by the spread of coronavirus.
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FIA President
Jean Todt
“In these difficult times, adapting the cost structures in motorsport is a priority to ensure its sustainability. I encouraged the decisions regarding the FIA Formula E Championship approved by the World Motor Sport Council in this regard, which are in line with the discussions currently underway for the other FIA disciplines.”
Jean Todt
“In these difficult times, adapting the cost structures in motorsport is a priority to ensure its sustainability. I encouraged the decisions regarding the FIA Formula E Championship approved by the World Motor Sport Council in this regard, which are in line with the discussions currently underway for the other FIA disciplines.”
Founder & Chairman of Formula E
Alejandro Agag
“During these challenging times, we have taken a flexible approach. Not only with the quick and sensible decision to temporarily suspend the season, but now by implementing cost measures to lower development costs for the teams. We listened to feedback from the teams and manufacturers and worked closely with the FIA to push back the launch of the Gen2 EVO and limit teams to a single homologation over the next two years. By doing so we have cut the projected car development costs in half. This was a necessary action to take to contain costs, given the health crisis and economic environment.”
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Electric is 45-minutes of non-stop action. The ABB FIA Formula E Championship is the closest and most competitive category in motorsport, with unpredictable and exciting electric racing in the centre of the world’s most iconic cities. Formula E is the fastest-growing series in motorsport and boasts the best roster in racing, where renowned road car manufacturers and automotive brands battle for points, position and bragging rights.
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About ABB:
ABB (ABBN: SIX Swiss Ex) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB’s Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com
Sources: Formula E PR
Photos: ‘Courtesy of Formula E’
Photos: ‘Courtesy of Formula E’