Formula E might still be the new kid on the block in the racing world, but it’s come quite a long way in just three seasons. As a result, its CEO suspects the series’ growth is far from over.
FE boss Alejandro Agag said Tuesday that, based on its steady rise in popularity, the FIA-sanctioned championship could be the only — or at least, the premier — category left by 2040, according to ESPN. Agag’s prediction came at an event in London, where FE announced its multi-year partnership with ABB Group, which will serve as its title sponsor at least through 2025.
Given that FE is aimed at promoting sustainability, the Spaniard’s timeline was based on the assumption that the world will have transitioned to renewable energy within 20 or 30 years. Once that happens, even if other categories adapt, it would have a leg up over the competition, as it was the original electric world championship.
“I think Formula E is going to get really, really big,” Agag told ESPN. “I believe that in 20, 30, 40 years, we will be the only motorsport out there.”
“There may be others but we will be probably the main motorsport because the world will be electric.”
Many motorsport traditionalists initially scoffed at FE, but it since has gained popularity among fans, teams and manufacturers, even surpassing Agag’s expectations. It already has attracted the likes of Andretti Autosport, Virgin Racing, BMW, Audi, Renault and Jaguar, with Nissan, Porsche and Mercedes slated to join in the coming years.
Although FE already is more appealing to some companies, such as Michelin, than Formula One, the two single-seater categories aren’t quite in the same league yet. That said, Virgin team owner Richard Branson reportedly believes that FE could surpass F1 as the “pinnacle of motorsport” as early as 2020.
And Agag seemingly doesn’t doubt that’s possible.
“We never like to put ourselves in competition with F1. We love F1, we think F1 is great,” Agag said. “But I never disagree with Sir Richard Branson, he’s a very clever man and he gets it right most of the time.”
Both Branson and Agag’s forecasts for FE are ambitious, to say the least, but they admittedly aren’t entirely implausible. FE is thoughtfully crafting its next set of technical regulations to keep costs in check once more OEMs enter the sport, in a bid to learn from F1’s mistakes.
Thumbnail photo via Formula E
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