When Formula E launched in 2014, it was backed by a vision to create an entertaining motorsport series that also drove innovation in the electric vehicle space. In the years since, Formula E slogans like “Change. Accelerated” have helped to push this idea further, highlighting the progress Formula E can deliver for sustainability initiatives globally.
The focus on all-electric racing had a clear appeal from the start to people who are concerned about the sustainability of traditional motorsports. However, it was also clear from the beginning that Formula E needed to offer something beyond this to attract viewers regularly and compete with more established sports like Formula 1 and MotoGP.
With the recent announcement of record viewing figures, including a global cumulative audience of 65 million for the Jeddah E-Prix double header, it’s clear the sport is expanding its appeal. So how has this growth happened and what does the future of Formula E look like?
Creating an Identity
The initial concept for Formula E came from Jean Todt, who at the time was the president of the Fédération Internationale de l'Automobile (FIA). His vision was multi-faceted, hoping the new championship would drive innovation, raise awareness of the benefits of electric vehicles and create innovation that could cross over into road cars and other racing disciplines.
At the same time, the competition would need to stand on its own two feet as a compelling motorsport format. Early on, it was decided the competition should focus on tracks made up of closed public roads in major cities, making it distinct from Formula 1, which mostly uses dedicated tracks. This also allowed the sport to reach people who do not get to see F1 races live.
The core race time of 45 minutes makes the races shorter than Formula 1, potentially making the sport more accessible to newcomers who may find F1 race lengths too intimidating. Yet, it was also important to appeal to existing motorsport fans, so Formula E’s E-Prix events have a familiar format, with practice sessions, qualifying and then the main race taking place over a weekend.
Another positive associated with Formula E is the way it has distinguished itself from feeder systems to F1, like Formula 2. Although Nyck de Vries made the jump to F1 after competing in Formula E, the two championships are different enough that it has not become a natural pipeline and, to date at least, we have not seen a stream of Formula E drivers graduating to a seat in F1.
Electric Expansion
Since its inaugural season, Formula E has experienced significant growth, while the race rules and regulations have also evolved to create a more compelling championship.
One of the most significant changes to Formula E came into effect during its fifth season in 2018/19, alongside the introduction of Gen2 cars. Attack Mode rewards drivers for driving off of the racing line in designated parts of the track, providing a temporary power boost afterwards. This adds a strategic risk vs. reward dynamic, with the potential for easier overtaking.
Jeff Dodds, the CEO of Formula E, recently announced that the championship is on course to achieve a global cumulative audience across the season of more than 500 million for the first time. On social media, Formula E is achieving a global year-on-year increase of 13% for video views and 10% for social media followers. With a global audience of 44 million, the Mexico City race this season earned the single-race record for total viewers of a Formula E event.
Television viewership is experiencing growth in countries like the United States and Japan, while China remains a major market, with an estimated 100 million Formula E fans in the country.
It is claimed that these figures make Formula E the fastest-growing motorsport in the world.
Challenges to Overcome
While Formula E is trending in the right direction, there are still some challenges to overcome before it becomes a truly mainstream sports championship, comparable to Formula 1.
To date, it is fair to say championships like Formula 1 and MotoGP have more mainstream and casual appeal. As an example, newspapers, sports websites and sports betting companies are likely to cover those sports and a website like https://smartbettingguide.com/ will provide betting tips for Formula 1 and MotoGP. This can make these sports easier for a newcomer to get into.
There are challenges on the course too. Although Formula E cars can achieve similar levels of acceleration to Formula 1 cars, the top speeds are still significantly lower. This results in a typical hot lap time that is around 15 seconds slower than in Formula 1. To truly compete with Formula 1 in popularity, the gap between the speeds of the cars may need to be reduced.
Since its inception, Formula E has also had mixed success when it comes to delivering exciting races with the kind of overtaking and competition for places that fans want to see. For example, the Portland E-Prix in 2023 saw an incredible 403 overtakes - an average of 12.6 per lap.
On multiple occasions, Formula E’s races in Monaco have outperformed Monaco’s Formula 1 races when it comes to overtaking and position changes too. Yet, the Formula E championship came in for criticism in early 2024, after a series of races with relatively few position changes.
Finally, the sport currently lacks mainstream stars. Drivers like Jack Dennis and Pascal Wehrlin are clearly accomplished racers, but they do not have anything like the level of recognition that F1 stars like Lewis Hamilton and Max Verstappen enjoy.
The Future of Formula E
The upcoming introduction of Gen4 cars could help to bridge the gap in performance between Formula 1 and Formula E cars further. Power input is set to increase from 350 kW to 600 kW, which is equivalent to 800 bhp. This added power could lead to more exciting qualifying.
Formula E is also exploring new ways to make use of AI and cloud technology and recently announced Google Cloud as a technology partner. It is hoped innovation in this space could potentially result in drivers having more information available while they are mid-race, including real-time performance analytics. This could lead to an even more tactical, data-driven sport.
With growing awareness of issues around sustainability, Formula E has a clear advantage over other motorsports. As electric vehicles become more ubiquitous and as car manufacturers switch their focus away from fossil fuels in the decades to come, the smart betting would be on Formula E to continue to grow and become a major force in motor racing.
Final Thoughts
Formula E is still a relatively new sport and by its very nature, it always has one eye on the future. Nevertheless, the racing championship is enjoying remarkable global growth at present and is bringing its own unique brand or motor racing to cities that may otherwise be unable to experience the thrill of an elite level Grand Prix.
Formula E’s leaders are often drawing comparisons in popularity to Formula 1, but it is important to have realistic expectations too. If the sport is ever going to achieve similar levels of popularity to F1, the next steps need to include higher top speeds and more mainstream press coverage. This could ultimately help to create superstars within the sport and attract more casual fans.