Formula E losses reach £140m as green racing attracts fresh interest
by Christian Sylt from Environment | The Guardian on (#4EGX5)
New teams and sponsors take heart as number of spectators more than doubles in a year
Formula E, the electric-powered racing series, has revealed that its pretax loss widened by 26.7% to 22.6m last year, giving it combined losses of 142.2m since it held its first race in 2014.
Formula E Operations is based in London and its biggest shareholder is Virgin Media-owner Liberty Global which has a 23.9% stake. The series features cars that are powered by a 250kW motor giving them a top speed of 280kph (174mph). They are 25% slower than Formula One cars but, unlike their bigger siblings, they produce little noise and no emissions.
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