Formula E becomes minority shareholder of Extreme E

The alliance is logical. This Tuesday, the Formula E announced its intention to become a minority shareholder of the new championship Extreme E, which will be launched in 2021 via a schedule of five dates in areas affected by global warming.

An acquisition that makes a lot of sense, since the two entities are highlighting competition at the wheel of 100% electric single-seaters/SUVs, with the aim of raising awareness and accelerating the transition to a new mobility abandoning fossil fuels.

This investment will see Formula E obtain a seat on the Extreme E Board of Directors, which will be occupied by the general director of the FIA-labeled world championship from next year Jamie Reigle.

Extreme E CEO Alejandro Agag, founder of Formula E, will retain his position as Formula E president.

“As we both race for a better future, a strategic partnership with Extreme E is a natural progression for Formula E, comments Jamie Reigle. We are joining forces in our fight against climate change, while each pursuing our sporting journey in an independent and complementary manner.

I am honored to be asked to join the Extreme E Board of Directors and am committed to delivering the greatest impact for both companies as we light up the world with the transformative power of running electric. »