3 Key Advantages Of Formula E For The Future
Formula E is here to stay. Let's take a look at a couple of reasons why.
In an ever-evolving world, it is becoming increasingly difficult for well-established companies and sporting series to remain popular and relevant, as they are being beaten by newcomers to the market. Evolution is constantly happening and will never stop, so those who don’t do it will eventually end up being left behind.
There are three key areas that new series such as Formula E have identified as key areas to focus on. Without being hamstrung by a series of complex historical agreements with teams they are able to press ahead with decisions that ultimately have the best interests of the series in mind. Below I go through theses key areas and as always let me know what you think in the comments!
Deconstructed Formula E car.
F1s current evolutionary path leaves it with not many places to go from where it is, as it was beaten to electric engines by Formula E. Formula E was also extremely smart in signing a deal with the FIA to be the only electric single-seater series until at least 2039. Whilst F1 is doing incredible work with internal combustion engines there is only so much you can do before it reaches its absolute limit. It’s also worth noting that the base from which this is being built (the internal combustion engine) is extremely old technology with far less ahead of it in its development story than what is behind it.
Electric vehicle technology has been developing for quite some time now, but with many of its teething problems now sorted it is becoming increasingly practical for everyday use. The rate at which this is developing is much faster than what they are currently capable of with hybrid engines. This means it is now only a matter of time before series such as Formula E can catch up and overtake F1 on the performance side of things.
Just some of the many manufacturers involved in Formula E.
2. Manufacturer Interest
For much of its life motorsport has been seen as a breeding ground for the automotive technologies of tomorrow. Over the years many car manufacturers have been lured in by this as a way to pressure test their new inventions and innovations. The lure of motorsport has attracted and still attracts a variety of brands from Ferrari to Toyota and almost everyone in between.
Over all the years of motorsport though no series has had the level of manufacture involvement that Formula E currently has and will have for many years to come. Finally, there is a series where both established car companies and new ones can compete against each other to develop the technology of the future. As the series regulations continue to open up further it will only attract more companies, meaning more competition and faster technological evolution.
3. Team Budgets
Those in charge of Formula E constructed a rather astute business model within which the teams run. All of the technology in the series that bears the least resemblance to road car technology (e.g. chassis and aero parts) is standardised, massively reducing costs to teams. That means the technology that is most relevant to road cars like software, powertrains, and in the near future batteries is developed by each team.
This appeals to well established and emerging manufacturers alike as they are able to develop technology relevant to them along with the marketing of their more sustainable message for the future. All of this results in a budget of around 4% of an average F1 team's budget. Formula E’s audience is also growing year by year into new markets and demographics that many other forms of motorsport have failed to make their mark in. The series already has a TV audience 25% of the size of F1s, meaning that this is providing some of the best marketing return on investment you can get.
The sporting world and the different series we watch has remained largely unchanged for many years, so it is definitely due for a shakeup. Some sports we’ve watched for years may fall off the face of the earth as innovative new sports and technologies emerge. What we see happen over the next 10 years or so will help shape the next few decades. There are many many signs that point towards Formula E being here to stay for a long time and one day becoming the new pinnacle of motorsport.