4 days ago
Formula E secures 10-year extension with FIA for World Championship
Formula E (Image credit: Formula E)
In good news for Formula E, a multi-year agreement extension has secured the rights to the FIA Formula E World Championship for an additional 10 years from 2038, when the current agreement ends.
This ensures a long and thrilling future for the FIA Formula E World Championship. The long-term extension will enable Formula E to grow further, build strategic long-range partnerships, and drive greater fan engagement.
Why Formula E deserves to continue
At present, Formula E continues to focus on its phased development strategy for its racing cars — delivering faster top speeds, greater acceleration, enhanced aerodynamics, and improved tyre performance.
These developments highlight the series' increased relevance to consumers and the wider EV market, with greater 'race to road' technology transfer.
With electric vehicle sales projected to rise to over 40% of global vehicle sales by 2030, and global lithium-ion battery production expected to triple by 2030, the relevance of Formula E and its technological advancements is more critical than ever. The Formula E GEN3 Evo already represents a step-change in performance: 0–60 mph in just 1.82 seconds (30% faster than a current Formula 1 car), a 200 mph top speed, and nearly 50% of the energy needed to complete a race regenerated during the event.
It is designed with sustainability at its core and includes tyres made with 35% recycled materials and bodywork incorporating recycled carbon fibre and natural fibres.
Formula E sees the participation of major automotive manufacturers including Porsche, Jaguar, Nissan, Maserati, Stellantis, Mahindra, and Lola-Yamaha. Since its first race in Beijing in 2014, Formula E has grown by 20% year-on-year, reaching around 400 million fans globally and attracting a television audience of approximately half a billion.
FIA and Formula E comment on agreement extension
The Fédération Internationale de l'Automobile (FIA), the global governing body for motorsport and mobility organisations, has announced a multi-year extension to its agreement with Formula E Holdings Limited (majority-owned by Liberty Global).
Mohammed Ben Sulayem, President at the FIA, said, 'The extension of the agreement governing the FIA Formula E World Championship is a fantastic outcome for the sport and a clear reflection of our ongoing strategy at the FIA to foster long-term stability, innovation, and growth across all areas of motorsport.'
He further said, 'This milestone reaffirms our commitment to innovation, sustainability, and technological progress, which are all central to the Championship's unique identity and purpose. It also aligns with our broader goal of increasing global participation and driving more accessible motorsport for all. We are delighted to be continuing this journey with Formula E, and I look forward to seeing it grow even further, both on and off the track, in the years to come.
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FIA Chief Commercial Officer Craig Edmondson, said, 'Formula E has not only demonstrated impressive growth since its inception, but has also led the way on sustainable innovation in our industry. This is a landmark agreement for the FIA and Formula E, and we are excited to be working with the Championship in the years to come.'
Liberty Global CEO Mike Fries said, 'We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed.
This is the motorsport of the future - a championship that combines the very latest technology, close-combat racing, and a mission that really matters.
'With the FIA's continued backing, we can now take the next big steps - scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve. With this new agreement in place, Formula E is now positioned better than ever to define the future of motorsport - more innovative, more inclusive, more sustainable - and to inspire the next generation of fans, drivers, and partners around the world.
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Formula E CEO Jeff Dodds also added, 'Formula E's growth since its inception has been nothing short of extraordinary, with hundreds of millions of fans and world-class teams and drivers deciding to choose highly competitive electric racing. This long-term extension of the partnership enables us to continue building the brand, investing in the product and delivering some of the most captivating racing that has made us famous.
With this long-term extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational.'
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