Mahindra Racing will join the inaugural FIA Formula E Championship beginning in September 2014. The motor sports division of the Mumbai-based USD 16.2 billion multinational Mahindra Group has signed an agreement with series promoters Formula E Holdings to become the eighth and only Indian team to join the new zero emission series.
The innovative all-electric global race series will include 10 races in its first season in city-centre locations around the world, including London, Beijing and Los Angeles, designed to raise awareness about electric vehicles as well as help advance EV technology.
The series has generated significant interest globally, and professional services firm EY recently released a report forecasting that Formula E will help contribute to the additional sale of 77 million electric vehicles worldwide over the next 25 years.
Already a major global force in the development and production of electric vehicles through Mahindra Reva it was a natural step forward for the Mahindra Group to join the Formula E Championship.
“We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology,” said Mr Anand Mahindra, Chairman and Managing Director of Mahindra Group. “With advanced operations and expertise in electronics, IT, automotive technologies and manufacturing, we are already seeing the fusion of this technology into our electric vehicle operations. Racing will further accelerate that trend while Formula E is set to raise awareness globally about the benefits of electric vehicles.”
Mahindra is no stranger to international motor sport, with Mahindra Racing already established within the two-wheeled world of the MotoGP World Championship.
According to Dr. Pawan Goenka, Executive Director and President (Automotive & Farm Equipment Sectors), “As pioneers of electric mobility in India, we are extremely thrilled to extend EV technology to the exhilarating world of the Formula E championship. This will not only help us develop next generation EV technologies, but will also catapult our product development capabilities to the next orbit.