Motorsport Network, the world’s largest automotive and motorsport digital technology business, announced the acquisition of a shareholding in Formula E Holdings Limited, the commercial rights holder of the FIA Formula E Championship who promote and organise the world’s first fully-electric single-seater racing series.
The shareholding is part of a broader strategy to take a leadership position in both the electric vehicle road car and electric racing media.
As 2017 heralds an unprecedented level of new EV model launches and Formula E shows increasing levels of engagement with racing fans, Motorsport Network is setting out to provide a connected universe of broadcast, OTT and digital media for all things electric.
The investment in Formula E will be managed in parallel with a commitment from Motorsport Network’s automotive platforms, including Motor1.com, to develop a dedicated automotive platform to cover the latest news, car launches and road tests of the abundance of EV road car launches scheduled for 2017. Consistent with Formula E, the move responds to market demand with Motor1.com’s audiences registering higher than average engagement levels around electric and green automotive content.
Formula E was launched in 2014 as the world’s first electric single-seater series. The races take place on street circuits in the heart of major cities around the world. The third season commenced in October 2016 and comprises races in Hong Kong, Marrakech, Buenos Aires, Mexico City, Monaco, Paris, Berlin, Brussels, Montreal and New York.
The championship is contested by 10 teams, including entries backed by car manufactures such as Renault, Jaguar, Mahindra, and DS with marques such as Audi, Mercedes and BMW having stated an interest in entering in the near future.