Formula E takes Minority Shareholding in Extreme E

Formula E has announced this morning that they have taken a minority shareholding in the new electric SUV racing, Extreme E. (Image Courtesy of Formula E)
​Extreme E is the New Radical Off Road Motorsport which will see Electric SUV's competing in remote ecosystems around the world, which aims to shed light on environmental issues.
The one goal which is shared between the two Series, is their founding purpose to counteract climate change by speeding up the adoption of electric vehicles. 

Formula E operated the open-wheel single-seater race cars in the FIA World championship whereas Extreme E will see Electric SUV's compete in some of the most testing, off road conditions in the world. Both Lewis Hamilton and ex team mate and forma World Champion Nico Roseberg have both entered teams into the Extreme E. Lets hope that this becomes a battle like we used to see on the F1 tracks. 

With Formula E's minority investment, also comes with a seat on the board of directors for Extreme E which will be held by Formula E CEO Jamie Reigle. The two businesses will remain independent but the collaboration between their leadership, Extreme E's CEO Alejandro Agag, will allow for a strategic partnership. 

Formula E will be back as of January 16th 2021 where it will be starting of in Santiago for its debut Grand Prix. Extreme E will be launching its first season which will open in Saudi Arabia on 21st March 202. 

Thoughts of the CEO's of both Motorsports below. 

CHIEF EXECUTIVE OFFICER OF FORMULA E; BOARD DIRECTOR OF EXTREME E
JAMIE REIGLE
"Formula E and Extreme E stand out as sports founded with purpose. 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."


CHIEF EXECUTIVE OFFICER, EXTREME E; FOUNDER AND CHAIRMAN OF FORMULA E
ALEJANDRO AGAG
"It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality. The two series are very different but have a shared purpose as they fight alongside one another to counteract climate change. I’d like to welcome Jamie to the Board of Extreme E and look forward to continuing our work together, this time to capture the momentum and maximise the potential of Extreme E."