The ABB FIA Formula E world championship have announced a strategic minority investment in Extreme E, the new electric SUV racing series which will have its inaugural season in 2021.
The new agreement sees ABB FIA Formula E Chief Executive Officer Jamie Reigle join the board of directors of Extreme E and speaking following the announcement he said:
Formula E and Extreme E stand out as sports founded with purpose. 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.”
Founder and CEO of Extreme E Alejandro Agag commented saying:
It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality. 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 maximise the potential of Extreme E.”