Electrifying Future: Formula E Extends Contract with FIA Until 2048

Formula E has secured an exclusive contract extension with the FIA until 2048, solidifying its position as the only all-electric single-seater series. With an option for further five years, the extension aims to boost investment and growth, with plans to match or exceed Formula One's performance by mid-century.

In a groundbreaking move for electric racing, Formula E announced a contract extension with the FIA, securing its position as the sole all-electric single-seater series until 2048. This deal, confirmed on Friday, highlights a decade-long commitment, with an option for an additional five years.

The series, backed by Liberty Global, aims to propel its cars to match the performance of other top-tier series like Formula One. Current Gen3 Evo models already surpass go from 0-60mph in just 1.82 seconds—a 30% advantage over their Formula One counterparts—underscoring the potential of electric racing innovation.

Mike Fries, CEO of Liberty Global, emphasized the growth potential, stating, "This extension reaffirms our confidence in where Formula E is headed." Jeff Dodds, Formula E's CEO, highlighted the remarkable progress over the past 11 seasons, setting the stage for a transformative impact on world motorsport.

(With inputs from agencies.)