Formula E has become a minority shareholder in Extreme E, a new off-road motorsport championship that will see electric SUVs competing in remote areas around the world.
The minority investment gives Formula E a seat on the latter championship’s Board of Directors, which will be held by Formula E CEO Jamie Reigle.
The two championships have a common ambition to fight climate change, accelerate the transition to electric mobility and use their platforms to catalyse positive change.
Both series are all-electric, 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 that will trial electric SUVs in some of the most testing off-road conditions in the world.
The first season of Extreme E is expected to kick-off in Saudi Arabia on 21st March 2020, after the 2020/21 Formula E World Championship kicking off in Santiago on January 16th and 17th, 2021.
Jamie Reigle, Chief Executive Officer of Formula E and Board Member of Extreme E, said: “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.”