Formula E has bought a minority stake in the new all-electric off-road series Extreme E.
With Formula E’s investment comes a seat on the Extreme E Board of Directors, which will be held by Formula E CEO Jamie Reigle.
“Formula E and Extreme E stand out as sports founded with purpose,” said Reigle. “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 honor 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.”
While Formula E and Extreme E remain independent, the deal will provide for even closer collaboration, as Extreme E CEO and Formula E Founder Alejandro Agag also retains the role of Formula E Chairman.
“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 to the Board of Extreme E and look forward to continuing our work together, this time to capture the momentum and maximize the potential of Extreme E.”
The 2020/21 Formula E World Championship open in Santiago on January 16 and 17, 2021, just before the start of Extreme E’s first season, which kicks off in Saudi Arabia on March 21.