Formula E makes investment in Extreme E
Formula E has announced that it has become a minority shareholder in Extreme E, the new off-road motorsport which sees electric SUVs competing in remote ecosystems around the world.
United in the purpose of counteracting climate change by accelerating the adoption of electric vehicles, Formula E and Extreme E have a strategic alliance which has now been formalised by Formula E’s investment.
The partnership also demonstrates an extension of Formula E’s commitment to developing electric vehicles and sustainable mobility technologies.
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 16 and 17 January 2021, just before the start of Extreme E’s first season, which kicks-off in Saudi Arabia on 21 March.
Jamie Reigle, chief executive officer at Formula E and board director at Extreme E, commented: “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. 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.”
Alejandro Agag, chief executive officer at Extreme E and founder and chairman at Formula E, added: “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.”