Formula E makes strategic investment in Extreme E, joining forces on shared mission to counteract climate change
London, England (November 3, 2020) – Formula E has today announced that it has become a minority shareholder in Extreme E – the radical new off-road motorsport which will see electric SUVs competing in remote ecosystems around the world.
United in their founding purpose to counteract climate change by accelerating the adoption of electric vehicles, Formula E and Extreme E have a natural strategic alliance which has been formalised by Formula E’s investment.The partnership demonstrates an extension of Formula E’s commitment to developing electric vehicles and sustainable mobility technologies, including now through Extreme E, which is set to trial electric SUVs in some of the most testing off-road conditions in the world.
The two sports have a common ambition to fight climate change, accelerate the transition to electric mobility and use their platforms to catalyse positive change for generations to come. Their distinct but complementary products mean each benefit from amplifying the other. Both series are all-electric motorsports, with Formula E operating the open-wheel single-seater FIA world championship competing in iconic international city centres, while Extreme E is a radical rally-raid showcasing the abilities of electric SUVs against the backdrop of remote ecosystems.
With Formula E’s minority investment comes a seat on the Extreme E Board of Directors which will be held by Formula E CEO Jamie Reigle. While the two businesses remain independent, the close collaboration of their leadership will allow a truly strategic partnership, as Extreme E CEO and Formula E Founder Alejandro Agag also retains the role of Formula E Chairman.
Formula E and Extreme E come together ahead of a momentous year for both series, with the debut of the 2020/21 ABB FIA Formula E World Championship taking place in Santiago on January 16 and 17, 2021 just before the start of Extreme E’s first season, which kicks-off in Saudi Arabia on March 21.
Chief Executive Officer of Formula E; Board Director of Extreme E
Jamie Reigle
“Formula E and Extreme E stand out as sports founded with purpose. As we both race for better futures, a strategic partnership with Extreme E is a natural progression for Formula E. We are joining forces in our fight against climate change, while each continuing on our independent and complementary sporting paths. It’s an honour for me to be invited to join Extreme E’s Board of Directors and I’m committed to delivering the greatest impact for both businesses as we light up the world with the transformative power of electric racing.”
“Formula E and Extreme E stand out as sports founded with purpose. As we both race for better futures, a strategic partnership with Extreme E is a natural progression for Formula E. We are joining forces in our fight against climate change, while each continuing on our independent and complementary sporting paths. It’s an honour for me to be invited to join Extreme E’s Board of Directors and I’m committed to delivering the greatest impact for both businesses as we light up the world with the transformative power of electric racing.”
Chief Executive Officer of Extreme E; Founder and Chairman of Formula E
Alejandro Agag
“It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality. The two series are very different but have a shared purpose as they fight alongside one another to counteract climate change. I’d like to welcome Jamie to the Board of Extreme E and look forward to continuing our work together, this time to capture the momentum and maximise the potential of Extreme E.”
“It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality. The two series are very different but have a shared purpose as they fight alongside one another to counteract climate change. I’d like to welcome Jamie to the Board of Extreme E and look forward to continuing our work together, this time to capture the momentum and maximise the potential of Extreme E.”
About the ABB FIA Formula E Championship
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 it out for points, position and the ultimate prize to be crowned champion.
Though it is more than just a race on the track, Formula E is also a proving ground and platform with a higher purpose – to test new technologies, drive development to the production line and put more electric cars on the road.
Using the spectacle of sport, the ABB FIA Formula E Championship is sending a powerful message to speed-up the switch to electric, in a bid to counteract climate change and address the devastating effects of air pollution. www.FIAFormulaE.com
For Formula E media enquiries, please contact – media@fiaformulae.com
About ABB
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energises the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 110,000 talented employees in over 100 countries. www.abb.com
About Extreme E
Extreme E is a radical new racing series, which will see electric SUVs competing in extreme environments around the world which have already been damaged or affected by climate and environmental issues. The five-race global voyage highlights the impact of climate change and human interference in some of the world’s most remote locations and promotes the adoption of electric vehicles in the quest for a lower carbon future for the planet.
To minimise local impact, Extreme E races will not be open to spectators, with fans instead invited to follow the action through live TV broadcast, and on social media.
The St. Helena, a former passenger cargo ship, has undergone a multi-million Euro refit to minimise emissions and transform her into Extreme E’s operations hub. The ship will be used to transport the championship’s freight and infrastructure, including vehicles, to the nearest port, minimising Extreme E’s footprint, as well as being used to facilitate scientific research through its on-board laboratory
Extreme E is also pioneering hydrogen fuel cell technology which will enable its race fleet to be charged using zero emission energy. This innovative solution from AFC Energy uses water and sun to generate hydrogen power. Not only will this process emit no greenhouse emissions, its only by-product will be water, which will be utilised elsewhere on-site. www.extreme-e.com
Season 1 Calendar:
Desert X Prix: Al Ula, Saudi Arabia
20-21 March 2021
Ocean X Prix: Lac Rose, Senegal
29-30 May 2021
Arctic X Prix: Kangerlussusaq, Greenland
28-29 August 2021
Amazon X Prix: Para, Brazil
23-24 October 2021
Glacier X Prix: Patagonia, Argentina
11-12 December 2021
Sources: Formula E PR
Courtesy of Formula E
Courtesy of Formula E