Historic ten-year extension for Formula E

The FIA and Formula E have just signed a historic agreement for a further ten years, extending the championship until 2048 and confirming the meteoric rise of electric motorsport.

The ten-year extension confirms the growing role of electric cars in motor sport. The agreement reflects the confidence placed in a discipline that has steadily grown in stature alongside traditional motor racing, attracting prestigious manufacturers and international audiences.

Impressive performances

Since 2014, Formula E has shown constant growth of 20% per annum, and now has 400 million fans around the world. The new GEN3 Evo cars are remarkably high-performance, going from 0-100 km/h in 1.82 seconds, which beats current F1 cars by 30%.

The series is supported by prestigious manufacturers such as Porsche, Jaguar, Nissan, Maserati, Stellantis, Mahindra and Lola-Yamaha. It is still the only all-electric single-seater discipline to compete at the highest world level.

Formula E: ‘GEN3 Evo’, the fastest single-seater ever created

Monaco, a key destination

The championship takes place in prestigious locations such as Monaco, Tokyo, London, Shanghai and Miami. The urban aspect sets Formula E apart from other disciplines, as it brings the competition closer to the general public.

The agreement comes at a good time: electric vehicles are expected to account for more than 40% of global sales by 2030, with production of lithium-ion batteries set to triple over the same period.  “This is the motorsport of the future – a championship that combines the very latest technology, close combat racing, and a mission that really matters,” says Mike Fries, CEO of Liberty Global.

The extension to 2048 will enable the series to continue with its technological innovations, particularly concerning batteries and energy efficiency. A life-size laboratory that will have a direct impact on how standard electric vehicles evolve.