LONDON: The FIA and Formula E have agreed a 10-year extension to their partnership, securing the future of the FIA Formula E World Championship until at least 2038.
Announced on Friday, the new multi-year agreement between the Federation Internationale de l’Automobile and Formula E ensures the world’s premier all-electric racing series will continue to operate under the FIA’s governance for another decade beyond the current deal.
The extension is a pivotal moment for Formula E, which has recorded 20 percent year-on-year growth since its inaugural race in 2014.
The sport now attracts more than 400 million fans worldwide and reaches a global TV audience of about half a billion.
Described by the FIA as a milestone for innovation and sustainability in motorsport, the renewed deal will allow Formula E to accelerate its expansion, pursue long-range partnerships and enhance its position as a testbed for electric vehicle technologies that translate to consumer markets.
“The extension of the agreement governing the FIA Formula E World Championship is a fantastic outcome for the sport and a clear reflection of our ongoing strategy at the FIA to foster long-term stability, innovation, and growth across all areas of motorsport,” said Mohammed Ben Sulayem, president at the FIA.
“This milestone reaffirms our commitment to innovation, sustainability, and technological progress, which are all central to the championship’s unique identity and purpose. It also aligns with our broader goal of increasing global participation and driving more accessible motorsport for all. We are delighted to be continuing this journey with Formula E, and I look forward to seeing it grow even further, both on and off the track, in the years to come,” he added.
Formula E’s cutting-edge credentials were further bolstered by the recent launch of the GEN3 Evo race car, which accelerates from 0-60mph in just 1.82 seconds, about 30 percent quicker than a current Formula 1 car.
It has a top speed of 200mph and regenerates nearly half the energy used in a race. Sustainability is a core pillar, with tyres containing 35 percent recycled materials and bodywork incorporating recycled carbon fibre and natural fibres.
Craig Edmondson, chief commercial officer at the FIA, added: “Formula E has not only demonstrated impressive growth since its inception, but has also led the way on sustainable innovation in our industry. This is a landmark agreement for the FIA and Formula E, and we are excited to be working with the championship in the years to come.”
The deal also provides the long-term security required to invest further in vehicle performance, fan engagement, and technological advancement.
Formula E is targeting faster top speeds, enhanced aerodynamics, better tyre performance, and closer racing.
“We’ve believed in Formula E since Day 1, and this extension reaffirms our confidence in where it’s headed. This is the motorsport of the future, a championship that combines the very latest technology, close-combat racing, and a mission that really matters,” said Mike Fries, CEO of Liberty Global, Formula E’s majority owner.
“With the FIA’s continued backing, we can now take the next big steps — scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve.
“With this new agreement in place, Formula E is now positioned better than ever to define the future of motorsport — more innovative, more inclusive, more sustainable — and to inspire the next generation of fans, drivers, and partners around the world,” he added.
Formula E’s roster includes major automotive manufacturers such as Porsche, Jaguar, Nissan, Maserati, Stellantis, Mahindra and Lola-Yamaha, with 11 teams and 22 drivers competing in cities including Jeddah, Monaco, Tokyo, London, Miami, and Shanghai.
Jeff Dodds, CEO of Formula E, said: “Formula E’s growth since its inception has been nothing short of extraordinary, with hundreds of millions of fans and world-class teams and drivers deciding to choose highly competitive electric racing.
“This long-term extension of the partnership enables us to continue building the brand, investing in the product and delivering some of the most captivating racing that has made us famous.
“With this long-term extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational,” Dodds added.
Formula E has topped global rankings for environmental, social and governance performance in sport for the past three years and continues to reduce freight emissions while delivering positive legacies in its host cities through its Better Future Fund.
With global EV sales forecast to exceed 40 percent of all vehicle sales by 2030 and battery production expected to triple, the series is positioning itself at the forefront of technological and cultural shifts in motorsport and mobility.
