Formula E becomes a minority shareholder in the new Extreme E electric SUV championship

Formula E has become a minority shareholder of Extreme E, the organiser of the new eponymous off-road electric SUV racing championship created by the chairman and founder of Formula E Alejandro Agag, according to the two organisations on 03/11/2020. The 2021 Extreme E championship will begin on 21/03/2020 in Saudi Arabia.

"United in their founding purpose to counteract climate change by accelerating the adoption of electric vehicles, Formula E and Extreme E have a natural strategic alliance which has been formalised by Formula E's investment," said the organiser of the ABB FIA Formula E Championship, whose 2021 season begins in Santiago (Chile) on 16 and 17/01/2021.

"With Formula E's minority investment comes a seat on the Extreme E board of directors which will be held by Formula E CEO Jamie Reigle. While the two businesses remain independent, the close collaboration of their leadership will allow a truly strategic partnership, as Extreme E CEO and Formula E founder Alejandro Agag also retains the role of Formula E chairman," explained the group which launched its first…