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Key Takeaways In just 12 years, Formula E has gone from a niche all-electric experiment that needed two cars to finish a race to a global championship with hundreds of millions of fans and cars that top 200 miles per hour.
Formula E’s mission is baked into its DNA: it is the world’s first sport to earn B Corp certification and works as a real-time test lab for EV innovation.
The idea of an all-electric racing championship used to sound like science fiction, and in its debut season, Formula E’s cars needed a mid-race swap just to make it to the checkered flag.
“12 years ago, if someone said we’re going to create an all-electric racing championship, people might have thought you were absolutely crazy,” says Jeff Dodds, CEO of Formula E.
At the time, just 300,000 electric vehicles were sold worldwide and, according to Dodds, “they weren’t very good.”
“In our first season, we needed to have two cars to finish a race, because the battery wouldn’t last long enough,” he recalls.
Today, the technology has improved dramatically. Around 22 million EVs are expected to be sold this year, with BloombergNEF forecasting that figure could reach 35-40 million annually by 2030.
The transition is already accelerating in markets worldwide. And Formula E has spent the past 12 years positioning itself in the driver’s seat.
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