EU sets up green racing, to be based in Hong Kong for 2014

Featured - September 1st, 2012

Global “Formula E” racing will introduce the world to the use of sustainable energy in 2014, Financial Times reported this week.

The Federation International de l’Automobile, along with a group of investors, plans to launch an electric car racing series following the European Commission’s aim to acquaint the car industry and the environment.

According to the FT, the Formula E championship will involve 10 teams and 20 drivers. Each team will be offered an evolution of a prototype vehicle developed by Formulec, a French electric racing car maker. The two-gear electric car will run on lithium-iron batteries that lasts for 25 minutes before needing charging. It has an acceleration of 0 to 100km/h in three seconds and can run a maximum speed of 220 km/h. The car weighs 780kg. The Formula races will be staged in cities that “prioritize the environment and clean mobility, with emerging markets”.

Formula E Holdings was awarded the commercial rights for the electric car championship. Alejandro Agag will be the chief executive of Formula E Holdings, to be based in Hong Kong. Mr. Agag, a former member of the European parliament, said: “We expect this championship to become the framework to research and development around the electric car, a key element for the future of our cities”.