2 min read

Formula E Becomes Minority Shareholder Of Extreme E


[mkdf_dropcaps type=”normal” color=”#f55549″ background_color=””]F[/mkdf_dropcaps]
ormula E has announced it has become a minority shareholder in the off-road series, Extreme E, in an effort to align the efforts of both competitions, which both exist to counteract climate change by promoting electric vehicles.

As part of the investment, Formula E CEO, Jamie Reigle, will join the Extreme E board of directors, to help unite the two in their shared objective, however, both will remain independent organisations.

Founder of both championships, Spanish entrepreneur, Alejandro Agag, said this collaboration between the two was always his goal.

“It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality,” Agag said.

“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 (Reigle) 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,” he said.

Reigle said the move was a natural progression in the combined fight against climate change.

“Formula E and Extreme E stand out as sports founded with purpose,” Reigle said.

“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,” he said.

It's free to join the team!

Join the most engaged community in the Sports Business World.

Get all the latest news, insights, data, education and event updates.