EV racing gains momentum

FIA Formula E Championship is gaining traction among automakers as many look to hybrid and all-electric powertrains to lead the next generation of performance vehicles.Now in its third season, the urban street-racing series features 10 teams with two drivers a race. They compete in all-electric, Formula One-inspired race cars with a restricted top speed of 140 mph.Well-known names such as Andretti Autosport, Jay Penske’s Dragon Racing, Audi and Renault have been involved with the series since its inaugural season in 2014-15. Others such as Jaguar, BMW and California startup Faraday Future have joined since then.“Formula E wants to become the platform where car manufacturers test and develop the technologies that they will then introduce on their road cars,” said Alejandro Agag, founder and CEO of Formula E, in a statement.Mercedes-Benz is expected to begin racing in the 2018-19 season, when the teams expand to 12. Ferrari boss Sergio Marchionne also has shown interest in getting the legendary race car brand involved, though nothing has been confirmed.A Formula E spokesman said it costs roughly $10 million to purchase a team and another $10 million per season to operate it. E-incubator

EV racing gains momentum

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