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Formula E on track to announce £25m of new investment
Formula E, the world's first fully-electric motorsport series, is set to announce that investment funds have injected around £25m into the business according to an article in the Independent written by Christian Sylt.It is another big boost for Formula E which launches in September and is being taken increasingly seriously within the racing industry.Its Hong Kong-based parent company Formula E Holdings (FEH) is majority owned by Spanish real estate tycoon Enrique Banuelos and Formula E's chief executive Alejandro Agag. In December they sold around 10% of it for an estimated £12.5m to Causeway Media Partners, an American fund founded by venture capitalist Bob Higgins along with...
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