The ABB FIA Formula E series is becoming increasingly popular. And while the pandemic took a bite … [+]
Jaguar Racing via Getty Images
As electric vehicles continue to gain market share in the consumer space, the FIA-approved Formula E series is growing in popularity with fans and their affiliates.
On Saturday the series will drive in the historic streets of Monaco. And with Formula E getting closer to the race on exactly the same layout as the Formula 1 series than ever before, Formula E’s Gen2 vehicles will use an expanded layout for 2021 that will drive past Casino Square and Mirabeau and to the Driving through the tunnel for the first time – This is a sign of how far EV technology has come since the beginning of the series, when drivers had to swap cars during the race due to battery life issues.
And while the F1 will certainly remain the dominant car racing series in the world in the medium term, it is not a question of whether electric vehicles will at some point be from head to toe with their counterparts with combustion engines, but when.
On the path of endurance racing, which in the 1950s and 1960s was a way for manufacturers to test technology and use racing to reach consumers, Formula E has nine global car brands, including Audi and Jaguar, Porsche and Mercedes.
Jaguar doesn’t just try its hand at sports. The company plans to reinvent itself by running entirely on electricity by 2025. The Formula E compound has played a huge role not only in brand awareness, but also in technology development.
“It’s a very exciting time – we’re accelerating towards the future,” said James Barclay, Jaguar Racing Team Principal. “It is great to know that investments are not only made in the team, but also in the future of sustainable mobility.”
As Barclay noted, in its short lifespan, Formula E has achieved tremendous importance as the third largest form of global auto racing in the world. In the seventh season, Formula E will be shown in more than 150 countries on six continents via 40 different media partners, including CBS VIAC in the USA, with two races on free-to-air channels and at least six other E-Prix programs on the CBS Sports Network during the season 2020-21.
And while in 2019 the racing series made a profit for the first time in its history – with a sales increase of 50% to more than 200 million euros (220.54 million US dollars) compared to 2018, according to Reuters, and a profit of around 1 million euros , driven by a 25% increase in sponsorship – the lack of fans in 2020 led to a significant drop in revenue, as was the case with all forms of motorsport. With vaccinations increasing across much of the world, Formula E executives remain optimistic for the remainder of the 2021 season.
“I think 2021 will be more of a return to the normal season – at least in the back half,” said Jamie Reigle, CEO of Formula E. In this way, another business model with which we can optimize costs as we do not all have ours Conduct events. Of course that’s not sustainable in the medium term, but we are optimistic about the future of the series based on the development we took before the pandemic. “
While participation in the various countries the series hosts races in continues to depend on Covid-19 protocols, there was good news for US fans when the rest of the race schedule was released. After the start of 2020, Formula E will return to New York with a double header on July 10th and 11th. These are rounds 10 and 11 of the 2020-21 season. This is the fourth year of the NYC E-Prix and the second double header to take place on the streets of Red Hook, Brooklyn. This is the first season in which the Formula E teams from Mercedes-EQ and TAG Heuer Porsche have driven on American soil, together with the US teams BMW i Andretti Motorsport and DRAGON / PENSKE Autosport.
Corporate sponsors are a great source of revenue for Formula E which, like F1, races around the world and attracts sponsors looking for global reach. The series has sponsors ranging from endemics like Michelin, the official tire for cars, to Bosch and BMW, to partners like DHL for transport and TAG Hauer and Moet & Chandon for lifestyle.
The brand with the greatest reach is ABB Ltd ABB, a Swedish-Swiss multinational headquartered in Zurich and the title sponsor of Formula E. With a focus on robotics, power, heavy electrical equipment and automation, ABB has had a strong focus on sustainability and Fits perfectly with the glamor and global reach of exotic racing EV cars, but was also extremely handy for the series.
“We are the world leader in fast charging,” said Theodor Swedjemark, ABB’s Chief Communications and Sustainability Officer. “When we entered Formula E in 2019, it was the FIA’s first fully electric international motorsport class. Hence, we saw ABB as the perfect union of two organizations sharing the common purpose of driving and driving the excitement of EV mobility. “
ABB’s global presence allows it to activate its sponsorship in many of the locations that Formula E races and this adds to the value of the title sponsorship agreement.
The series will reach its next level when it upgrades to its Gen3 car. There are already commitments from 333 Racing, Porsche and DS Automobiles. Originally planned for the ninth season, but put off the field due to the pandemic, the Gen3 car will be used as part of the tenth season of Formula E in the years 2023-24. The power of the car is expected to be 350 kW in qualifying and 300 kW in the race, while the regeneration power is permitted on both the front axle (250 kW) and the rear axle (350 kW) for a maximum recovery of 600 kW when braking.
The biggest question is whether Formula E will eventually merge with F1. It’s a continuing point of speculation that will only attract more attention as the all-electric racing series gains traction.
Below is the schedule for the 2020-21 ABB FIA Formula E season:
* Subject to the circuit homologation
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