Owners, promoters, and acting holding company of the ABB FIA Formula E Championship
Formula E Holdings Limited, (FEH) are the owners, promoters, and acting holding company of the ABB FIA Formula E Championship.[1] Founded in 2012 by Alejandro Agag, with funding from entrepreneur Enrique Bañuelos, in order to fulfil an FIA tender to create an all-electric international racing series, FEH have overseen all five editions of the Formula E Championship from their registered bases in Hong Kong and London.[1][2]
In their role as promoters for the Formula E Championship, FEH are responsible for negotiating and arranging the calendar, shipping and media coverage of the series.[1]
History
FEH was founded in the summer of 2012, shortly before winning the tender to organise an FIA accredited electric racing series on the 1 August of the same year.[2] Founder and CEO Alejandro Agag,[3][4][5][6] with funding from London based Spanish entrepreneur, Enrique Bañuelos, immediately set about securing a source of cars and other equipment for the series, with FEH and Spark Racing Technology signing a deal in November 2012.[7] FEH officially ordered 42 examples of what would become the SRT_01E from Spark, and would subsequently distribute 40 of them to future entrants to the series.[7]
Formula E
Acting as the promoters of the new FIA Formula E Championship, FEH, having secured a deal for equipment, began arranging both a calendar and a number of sponsors for the series, with hopes of hosting its first race in 2014.[8] The first sponsorship deal came with the signing of TAG Heuer as the series' official timekeeper, while Michelin and Renault became technical partners of Spark, all in early 2013.[9][10] Elsewhere the new SRT_01E car completed testing towards the end of 2013, with the first examples delivered to FEH at their Donington Park operations headquarters in May 2014.[11]
Debut season
FEH duly distributed the first ten cars, as well as thirty of the thirty-two cars still on order, to teams for testing in July 2014, a test which effectively served as the public unveiling of the series.[12][13] After a full race simulation all 42 FE cars were shipped to Beijing, China for the first ever ePrix, which was staged on the 13 September 2014.[14][15] In the build up to the debut race, which was to be won by Lucas di Grassi after a last lap collision between Nicolas Prost and Nick Heidfeld, FEH secured deals with DHL,[16] BMW[17] and Julius Bär[18] to further promote the series.[14][19][20][21]
ABB Alliance
Shortly before the 2018 Marrakech E-Prix, it was revealed that FEH and the FIA had secured a title sponsor for Formula E, with a deal with Swiss manufacturing firm ABB bringing in $15 million for the series.[22][23]
