Formula E co-founder Alberto Longo sees a long-term future for the all-electric world championship race in India and exuded confidence that the bureaucratic hurdles and taxation points, that had pushed Formula 1 in another country, gained’t scuttle their plans since they’ve executed sufficient “homework” to handle that.
Londo additionally stated the sequence could discover it robust to realize the recognition loved by Formula 1 however it’s already extra related.
Speaking to PTI on the sidelines of the first-ever Formula E race in Jakarta, Longo sounded assured about going to Hyderabad subsequent yr. The first-ever electrical race in India is predicted to happen on February 11.
“The FIA World Motor Sport Council is meeting in 20 days. After that, we will make the announcement of the calendar. Hopefully, Hyderabad would be part of the calendar. I am talking to them on a daily basis and hopefully we will reach the finish line soon,” Longo stated in an interview.
“India is a massive market for us, a tier 1 market for us. You don’t know what the future brings but the intention is to stay there for a long time. It won’t be a 20-year contract to start with. It would be a medium term deal and hopefully we extend it four or five years.” Formula 1 got here to India in 2011 however may survive solely three seasons attributable to promoter’s monetary well being and taxation points. The bureaucratic crimson tape may also show to be a hurdle in India with organisers having to deal each with the state and central authorities.
“Those issues were more related to tax. We have very good tax advisors, we know the challenges, we know the potential risks and liabilities that we have. We have done our homework on that front. If all goes to plan, I see a long term future for us in India,” stated Longo.
Formula E could not get pleasure from F1’s recognition nevertheless it’s extra related’ ====================================
Formula E has grown immensely since its debut season in 2014. It is house to main auto makers together with Mahindra, Porsche, Jaguar, Nissan and Mercedes.
“It is important to remember that why we started. The idea was to creat a platform to promote electric mobility. The mission is never ending in that sense,” stated Londo.
On the fixed comparisons with F1, he stated: “I am a big fan of Formula 1 myself. I was involved in the sport. But I also learnt what I would not take from F1 if I ever became a promoter.” “I have all my respect for what they are doing but we are not competing with them. They are a fantastic racing championship but we race with a purpose. It is a lot more than a racing championship.”
“I feel they’ll co exist. The actuality is that by 2030-2035 many of the world will ban combustion engine vehicles. The world has turned electrical and we’re the one single-seater platform of full-electric vehicles that’s on the market and we’ll solely get larger.
“But will that be enough to overtake F1, it doesn’t worry us today but eventually it could happen. But it is surely more relevant than F1 and any other championship. “What our manufacturers do has an impact on road cars straightaway. That has not happened in many many years in motorsport.”
Honour to have Mahindra Racing since season 1 ==============================
“It has been an honour to have them. What I value most about them is their loyalty. I remember visiting Anand Mahindra and Dilbagh Gill (CEO) back in 2013. They said yes straightaway. We had nothing by then. It was just an idea. They just believed in the idea. Because of Mahindra, we could go to other manufacturers to join us. They have been a massive help,” stated Longo. He concluded by speaking about his long-term plans for Asia.
“The only reason we are not racing a lot in Asia is because of Covid. Our target is to divide the world in three mega geographical zones — Americas, Europe and Asia. “Asia is a key market for us and we are proving it by coming here to Jakarta, hopefully going to India and China soon as Covid is over. We want to race in the five biggest cities of Asia,” he stated
Source: www.financialexpress.com