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Formula E Holdings

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Formula E Holdings
Company typeHoldings Company
IndustryMotorsports
FoundedMarch 3, 2012; 12 years ago (2012-03-03) in Hong Kong, UK
FounderAlejandro Agag
Headquarters
London
,
England
Area served
Globally
Key people
Products
Websitefiaformulae.com

Formula E Holdings Limited, (FEH) are the owners, promoters, and acting holding company of the ABB FIA Formula E Championship.[1] Founded in 2012 by Alejandro Agag, with funding from entrepreneur Enrique Bañuelos, in order to fulfil an FIA tender to create an all-electric international racing series, FEH have overseen all five editions of the Formula E Championship from their registered bases in Hong Kong and London.[1][2]

In their role as promoters for the Formula E Championship, FEH are responsible for negotiating and arranging the calendar, shipping and media coverage of the series.[1]

History

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FEH was founded in the summer of 2012, shortly before winning the tender to organise an FIA accredited electric racing series on the 1 August of the same year.[2] Founder and CEO Alejandro Agag,[3][4][5][6] with funding from London based Spanish entrepreneur, Enrique Bañuelos, immediately set about securing a source of cars and other equipment for the series, with FEH and Spark Racing Technology signing a deal in November 2012.[7] FEH officially ordered 42 examples of what would become the SRT_01E from Spark, and would subsequently distribute 40 of them to future entrants to the series.[7]

Formula E

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Acting as the promoters of the new FIA Formula E Championship, FEH, having secured a deal for equipment, began arranging both a calendar and a number of sponsors for the series, with hopes of hosting its first race in 2014.[8] The first sponsorship deal came with the signing of TAG Heuer as the series' official timekeeper, while Michelin and Renault became technical partners of Spark, all in early 2013.[9][10] Elsewhere the new SRT_01E car completed testing towards the end of 2013, with the first examples delivered to FEH at their Donington Park operations headquarters in May 2014.[11]

Debut season

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FEH duly distributed the first ten cars, as well as thirty of the thirty-two cars still on order, to teams for testing in July 2014, a test which effectively served as the public unveiling of the series.[12][13] After a full race simulation all 42 FE cars were shipped to Beijing, China for the first ever ePrix, which was staged on the 13 September 2014.[14][15] In the build up to the debut race, which was to be won by Lucas di Grassi after a last lap collision between Nicolas Prost and Nick Heidfeld, FEH secured deals with DHL,[16] BMW[17] and Julius Bär[18] to further promote the series.[14][19][20][21]

ABB Alliance

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Shortly before the 2018 Marrakech E-Prix, it was revealed that FEH and the FIA had secured a title sponsor for Formula E, with a deal with Swiss manufacturing firm ABB bringing in $15 million for the series.[22][23]

References

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  1. ^ a b c 'Formula E Holdings', linkedin.com, (Linked In, 2018), https://www.linkedin.com/company/formula-e-holdings, (Accessed 09/12/2018)
  2. ^ a b 'New FIA Formula E Championship powered by electric energy', fiaformulae.com, (FIA Formula E, 01/08/2012), http://fiaformulae.com/en/news/2012/august/new-fia-formula-e-championship-powered-by-electric-energy.aspx, (Accessed 20/07/2015)
  3. ^ "Formula E founder Agag assumes chairman role". RACER. 2018-12-14. Retrieved 2020-07-10.
  4. ^ Sylt, Christian. "Investors Fuel Formula E With $70 Million Despite Its $110 Million Losses". Forbes. Retrieved 2020-07-10.
  5. ^ "Formula E losses reach £140m as green racing attracts fresh interest". the Guardian. 2019-05-05. Retrieved 2020-07-10.
  6. ^ Sylt, Christian. "Why Formula E's Profits Have Been Slow To Rev Up". Forbes. Retrieved 2020-07-10.
  7. ^ a b 'Formula E orders 42 Cars from Spark Racing Technology', fiaformulae.com, (FIA Formula E, 26/11/2012), http://www.fiaformulae.com/en/news/2012/november/formula-e-orders-42-cars-from-spark-racing-technology.aspx Archived 2021-06-27 at the Wayback Machine, (Accessed 19/07/2015)
  8. ^ 'Rio returns as Formula E confirms inaugural calendar', fiaformulae.com, (FIA Formula E, 04/12/2013), http://www.fiaformulae.com/en/news/2013/december/rio-returns-as-formula-e-confirms-inaugural-calendar.aspx Archived 2021-06-29 at the Wayback Machine, (Accessed 09/07/2015)
  9. ^ 'TAG Heuer signs major global partnership with FIA Formula E Championship', fiaformulae.com, (FIA Formula E, 15/05/2013), http://www.fiaformulae.com/en/news/2013/may/tag-heuer-signs-major-global-partnership-with-fia-formula-e-championship.aspx Archived 2021-06-29 at the Wayback Machine, (Accessed 09/07/2015)
  10. ^ 'Michelin confirmed as official tyre supplier for FIA Formula E Championship', fiaformulae.com, (FIA Formula E, 28/03/2013), http://www.fiaformulae.com/en/news/2013/march/michelin-confirmed-as-official-tyre-supplier-for-fia-formula-e-championship.aspx Archived 2021-06-28 at the Wayback Machine, (Accessed 09/07/2015)
  11. ^ 'INSIGHT: Frédéric Vasseur, Spark Racing Technology', fiaformulae.com, (FIA Formula E, 08/05/2014), http://www.fiaformulae.com/en/news/2014/may/insight-fr%C3%A9d%C3%A9ric-vasseur-spark-racing-technology.aspx Archived 2016-03-21 at the Wayback Machine, (Accessed 09/07/2015)
  12. ^ 'Formula E completes full event simulation ahead of first ever race', fiaformulae.com, (FIA Formula E, 11/08/2014), http://www.fiaformulae.com/en/news/2014/august/formula-e-completes-full-event-simulation-ahead-of-first-ever-race.aspx Archived 2021-06-28 at the Wayback Machine, (Accessed 20/07/2015)
  13. ^ "Buemi fastest in first Formula E test at Donington Park". www.racefans.net/. 3 July 2014. Retrieved 12 September 2020.
  14. ^ a b 'di Grassi snatches win after dramatic last corner crash', fiaformulae.com, (FIA Formula E, 13/09/2014), http://www.fiaformulae.com/en/news/2014/september/lucas-di-grassi-snatches-win-after-dramatic-last-corner-crash.aspx Archived 2014-09-28 at the Wayback Machine, (Accessed 25/04/2015)
  15. ^ Davis, Becky (13 September 2014). "Beijing Hosts Debut of Formula E as Engines Whir Rather Than Roar". The New York Times. Retrieved 12 September 2020.
  16. ^ "FIA Formula E Championship". www.dpdhl-brands.com. Retrieved 12 September 2020.
  17. ^ "Official Vehicle Partner | BMW i Motorsport". www.bmw-motorsport.com. Retrieved 12 September 2020.
  18. ^ "Formula E buoyed by Julius Baer and Saudia sponsorship renewals". SportBusiness. 22 November 2019. Retrieved 12 September 2020.
  19. ^ 'DHL delivers Formula E across the globe', fiaformulae.com, (FIA Formula E, 10/09/2013), http://www.fiaformulae.com/en/news/2013/september/dhl-delivers-formula-e-across-the-globe.aspx Archived 2021-06-29 at the Wayback Machine, (Accessed 09/07/2015)
  20. ^ 'BMW to become official vehicle supplier', fiaformulae.com, (FIA Formula E, 30/06/2014), http://www.fiaformulae.com/en/news/2014/june/bmw-to-become-official-vehicle-supplier.aspx Archived 2021-06-27 at the Wayback Machine, (Accessed 09/07/2015)
  21. ^ 'Julius Baer joins Formula E as exclusive Global Partner', fiaformulae.com, (FIA Formula E, 12/09/2014), http://www.fiaformulae.com/en/news/2014/september/julius-baer-joins-formula-e-as-exclusive-global-partner.aspx Archived 2021-06-27 at the Wayback Machine, (Accessed 09/07/2015)
  22. ^ 'ABB becomes title partner of Formula E', fiaformulae.com, (FIA Formula E, 09/01/2018), http://www.fiaformulae.com/en/news/2018/january/abb-becomes-title-partner-of-formula-e/, (Accessed 11/01/2018)
  23. ^ Austin-Morgan, Tom (26 January 2019). "ABB's involvement as the title sponsor of Formula E could truly affect the wider world". www.eurekamagazine.co.uk. Retrieved 12 September 2020.
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