Press Release
Mahindra Racing, the motorsports division of the Mumbai-based USD 16.2 billion multinational Mahindra Group, has today signed an agreement with series promoters Formula E Holdings to become the eighth team and another global company to join the new FIA Formula E Championship.
Already a major global force in the development and production of electric vehicles through its Mahindra Reva Company, joining the new zero emission series was a natural step for the Mahindra Group.
“We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology,” said Mr Anand Mahindra, Chairman and Managing Director of Mahindra Group. “With advanced operations and expertise in electronics, IT, automotive technologies and manufacturing, we are already seeing the fusion of this technology into our electric vehicle operations. Racing will further accelerate that trend while Formula E is set to raise awareness globally about the benefits of electric vehicles.”
Mahindra is no stranger to international motor sport, with Mahindra Racing already established within the two-wheeled world of the MotoGP™ World Championship.
Dr. Pawan Goenka, Mahindra’s Executive Director and President of Automotive and Farm Equipment Sectors, said: “As pioneers of electric mobility in India, we are extremely thrilled to extend EV technology to the exhilarating world of the FIA Formula E Championship. This will not only help us develop next generation EV technologies, but will also catapult our product development capabilities to the next orbit.”
Mr S P Shukla, Chairman, Mahindra Racing and President of Group Strategy said: “We are very excited about our new adventure with Formula E. Mahindra Racing is relatively young, but we have seen how racing delivers benefits to our organisation, not only from the brand perspective, but equally in terms of technology advances and motivation. This is an excellent addition to our racing portfolio and we are looking forward to a successful future in Formula E.”
Mahindra Racing Formula E Team will now be put forward to the FIA for final approval as the eighth team to enter the championship. They join IndyCar outfits Andretti Autosport and Dragon Racing, Asia’s China Racing and Super Aguri and European squads Drayson Racing, e.dams and Audi Sport ABT.
Alejandro Agag, CEO of Formula E Holdings, added: “We are very proud to have a major global company like Mahindra join the FIA Formula E Championship. Adding a manufacturer from India to what is already a real global mix of teams is fantastic news for the series. Everything is coming together very well and we look forward to presenting all ten teams to the FIA World Motor Sport Council next month.”
