Reigle has also taken up a position on Extreme E’s board of directors following today’s announcement.Ī statement regarding the news stated that the partnership demonstrates ‘an extension of Formula E’s commitment to developing electric vehicles and sustainable mobility technologies, including now through Extreme E, which is set to trial electric SUVs in some of the most testing off-road conditions in the world.’Īgag alluded to a long-held plan to align the two companies which he founded saying: “It has always been my intention to have Formula E and Extreme E working closely together, spreading the message of electrification, environment and equality. He is still though the Chairman of Formula E, a position he took in November 2018.Īgag was replaced as a director of FEO in July by current Chief Executive Officer, Jamie Reigle who joined Alberto Longo, Co-Founder, Deputy CEO and Chief Championship Officer at Formula E and Chief Financial Officer, Mike Papadimitriou as named directors. Hutchinson also holds a similar position at Mauve Group Holdings Limited which is the holding company of the Envision Virgin Racing team.įormula E Operations Ltd, Formula E’s organisers and promoters, underwent a re-structure in July when Alejandro Agag resigned as a director from the company he founded in 2013. These are investor Sheng Li, the head of SECA which owns the two-time Formula E champions, DS Techeetah and non-executive director Hazel Hutchinson who is a corporate strategist working for the Aegis Group. The news, which was officially confirmed on Tuesday, will mean Formula E takes a minority stakeholding in the private limited company – Extreme E Ltd which was founded in April 2018 initially by Formula E co-founder Alejandro Agag and former Indy 500 winner Gil de Ferran.Įxtreme E Ltd, the company which runs and promotes the new series, presently has two directors in addition to Agag.
Formula E has invested in the nascent Extreme E series.
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