When it comes to motorsports, it’s difficult not to envision a combustion engine with high-performance modifications. However, it’s even more challenging to think developers could reduce functionality and engineering to fit specific models that only consider wheels, batteries, and some level of bodywork. 

Although engineering can not be proportionally reduced in the same way, Formula E has and continues to challenge the status quo around racing. Fans might be looking for sports news only or perhaps exploring different racing methods, yet Formula E is here to stay and will continue expanding. 

Growing Interest in Formula E

With the unveiling of the new Formula E vehicle, fans have become aware of certain factors around the cars, advancement, and overall level of competition.

First of all, the racing module is expanding. Not only is there higher interest being raised by Formula E, but solid efforts have become tangible with the unveiling of cars with additional modifications and improvements. 

These last points imply that investors have begun to target E-racing as a new form of business in the world of motorsports. With growing investment, the industry and the sport could potentially grow quite significantly. Therefore, these demonstrations have proved that Formula E is now the way to go. 

More teams have also devoted their efforts to engineering and development. This has signaled that teams and brands have also seen commercial potential in the industry. 

Although all investments are risky early in the industry, those enthusiasts aiming for motorsports to gradually convert to renewable energies are begging fans to pay attention to Formula E. 

Numbers Support Formula E’s Rising Popularity 

In 2020, Formula E generated approximately $200 million worth of revenue. That’s not considering all factors such as merchandise and e-marketing campaigns. To most, these numbers are still not sufficiently large. However, for some, this is evident that the industry is on its way to dominating. 

To Formula 1 professionals and experts, Formula E is the big new trend. Experts predict that Formula E will surpass the $1 billion mark in overall value in the next several years. Although this now sounds like reality, this might have sounded like a bold statement a couple of years ago. 

These latest shows of enhancements and presentations of vehicles have also become the ideal opportunities to promote the Formula E brand. To automakers, the level of investment targeted to produce each car has continued to grow and is not expected to decrease. On the contrary, it is expected to increase exponentially with every new season. 

This implies that brands also need to make huge efforts to dedicate investment and time to enhancing and improving their level of performance every year. This responsiveness, however, is quickly starting to be monetized. 

Expectations are that Formula E will continue to grow, yet it’s hard to predict its full potential so far. 

Where Formula E Is Headed

Recent growth has already allowed experts to make some high-level predictions. First, experts see Formula E growing to a level that will become a predominant force in motorsports. 

To some, Formula E is the new Formula 1. This might take time, yet most experts have agreed on this proposed reality. 

The industry is also expected to become a leading example of how to modernize and disrupt racing forms that have dominated the world in the last decades. With the incursion and development of Formula E, NASCAR, IndyCar, and even Rally competitions have also been targeted as the new canvases to which electric energy can divert. 

To experts, it’s just a matter of time before electric energy becomes the new power plant for motorsports. Formula E supports this argument, and more leading changes are expected to be seen in the following years. 

Profits and overall market value will also come with development. More automakers are expected to join the competition and promote their brands in this new world of auto racing.

About The Author

MotorPunk

An eclectic mix of roadtrips, motorsports for the poor, banger rallies and an appreciation of modern & retro classic cars.

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