LONDON – Formula E officials have announced that the series has become a minority shareholder in Extreme E – the new off-road motorsport which will see electric SUVs competing in remote ecosystems around the world.
The partnership demonstrates an extension of Formula E’s commitment to developing electric vehicles and sustainable mobility technologies, including now through Extreme E, which is set to trial electric SUVs in some of the most testing off-road conditions in the world.
The two sports have a common ambition to fight climate change, accelerate the transition to electric mobility and use their platforms to catalyse positive change for generations to come. Their distinct but complementary products mean each benefit from amplifying the other. Both series are all-electric motorsports, 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 showcasing the abilities of electric SUVs against the backdrop of remote ecosystems.
With Formula E’s minority investment comes a seat on the Extreme E Board of Directors which will be held by Formula E CEO Jamie Reigle. While the two businesses remain independent, the close collaboration of their leadership will allow a truly strategic partnership, as Extreme E CEO and Formula E Founder Alejandro Agag also retains the role of Formula E Chairman.
“Formula E and Extreme E stand out as sports founded with purpose,” said Reigle. “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.”