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LONDON, England - Richard Branson's Virgin Group will enter
a team in the Formula E electric racing in 2014.
Formula E races will be staged in city centres globally and its backers hope it
will increase the market for battery-powered vehicles and advance the
technology that powers them.
Virgin was involved in Formula 1 racing from 2010 to 2011. Its Formula E team
will be run by Alex Tai, who was head of Virgin’s F1 team.
‘SHOWCASE ELECTRIC CARS’
Branson said: "The launch of the Formula E Championship is exciting news
for racing fans but also for those that believe in developing the great
electric cars of the future.
"The need to create fast, dependable and durable race cars will help to
accelerate the sector and showcase electric cars to a large global audience.”
The addition of Virgin means that Formula E has nine of the 10 teams it hopes
to have on the grid for its inaugural race in Beijing, China in September 2014.
The new series is backed by Alejandro Agag, chief executive of Formula E, as
well as businessman Enrique Banuelos who are investing R1-billion in the
project.
Agag said: "Having a global brand like Virgin, renowned for their
technological innovation and sporting passion, as one of our ten teams is a
fantastic addition to the championship.”
