Formula E Revenue Decreases
Formula E Operations latest annual accounts, that were made public via Companies House last week, (year-end September 2024) show that ‘revenue decreased to €189,587,986 from €219,888,013 with cost of sales remaining relatively stable, only slightly decreasing from €202,264,034 to €202,072,192. That meant that gross loss for the Company was recorded at €12,484,205 (2023: profit €17,623,979).’
The report added that ‘the revenue decrease was driven primarily by the reduction in race events and other race related activities. Loss before tax was reported at €78,306,122, up from €41,776,604 in 2023. The loss has been reflected in the balance sheet mainly as increase in liabilities, with the most significant increase recorded in the amounts owed to the parent company (by €73,459,418) as the parent company continues to support the financial needs of the business.’
The loss for the year ending 30 September 2024 was ‘€78,794,454 (2023: €42,371,459) and net liability position was €363,756,952 (2023 – €284,962,498).’
Maserati MSG Licence Re-Allocation Official
Formula E Operations accounts also identified for the first time officially that the Maserati MSG team is now owned by Formula E. A paragraph detailing this appeared under ‘subsequent events’ It read: ‘In March 2025, a proposed transaction for the sale of the Maserati MSG Formula E team collapsed. Formula E have now taken temporary ownership of the team and will provide support whilst exploring alternative ownership.’
Consistency Progress?
TAG Heuer Porsche driver Antonio Felix da Costa has told FEN that work is being done to try and get a higher level of consistency to stewarding decisions in Formula E races going forward.
“We’ve actually been working closely with the FIA and our Race Director (Marek Hanaczewski) to try and get some clarity there and I think all we have to say at this moment is just that we’re all working towards a similar goal and we just want consistency and clarity,” said da Costa.
“That’s because what happened in Jakarta, to be honest, it’s not nice, I mean, in my personal opinion, those two penalties for Seb (Buemi) and Oliver (Rowland), they are not deserved.
“Seb got his penalty reversed, that’s good, but it’s never good to do it a week and a half later and I lost two points when I was walking my dogs at home, so that’s never cool, but I mean, it’s a process, we’re all trying to make it better, I think everybody’s trying to work together and improve it.”
Team Discord on Licences
Formula E Notebook has learned that the Formula E Teams and Manufacturers Association (FETAMA) is seeking clarity from Formula E about the constitutional framework of the all-electric world championship in regard to the currently three un-utilised licences. These are the so-called 12th licence, which was initially Audi’s until 2021, the Maserati MSG slot which is in the hands of FEO as that team has no direct owner and cannot support itself, and now the NEOM McLaren licence which will revert back to FEO at the end of July.
At a meeting between the FETAMA delegates in Paris in mid-June, detailed discussions centred upon if 12 licences need to exist at all and if they could not be reduced to 10 in readiness for the Gen4 period in 2026. FEN understands that a document will be presented to FEO outlining the make-up of the franchise holders and how the licenses and the number of licenses are managed and strategised.
Ian James Future?
NEOM McLaren Formula E leader Ian James’ future is attracting speculation after The Race revealed earlier this week that the team will not carry on racing in Formula E and close its doors shortly after the end of the present season. James is currently finalising the extrication of the team from contracts with key suppliers including Nissan, Spark and with Formula E itself for leaving a season early.
One theory that is swirling the paddock is that James could become the new team principal at Jaguar TCS Racing. A vacancy there will exist from August 1, as James Barclay leaves his position after a 12 year stretch with the ‘Big Cat’. Barclay will take up his role with the McLaren Endurance programme in September. FEN understands that an appointment confirmation from Jaguar may not come until a similar time of the year.
NMFE Hardware Questions
Meanwhile, the Nissan powertrains that derive from the Viriy Chatillon bases of the Nissan Formula E Team and Alpine which is located on the same industrial estate, will be returned to the manufacturer next month. FEN understands that these are on a leasing deal for the soon to be former Nissan customer. Other assets that the McLaren team have, such as the DiL simulator and spares packages will be decided upon by the end of the month.
Driver Market Scrambles Ongoing
Several drivers are essentially waiting to see if Antonio Felix da Costa will be held to his Porsche option for 2026 as seats are still frozen due to the ongoing negotiations between the team and the driver.
FEN understands that a resolution between the two, one way or another, should be concluded shortly after the Berlin EPrix. Porsche is known to have been considering Oliver Rowland, Dan Ticktum and Nico Mueller to replace da Costa should he exit the team.
The Race revealed this week that Taylor Barnard has signed a deal to race with Penske in the future, while Dan Ticktum looks set to stay at CUPRA KIRO after an option on the team’s side was activated last week. Click HERE for latest on Ticktum and CUPRA KIRO.
The futures of current Maserati MSG drivers Stoffel Vandoorne and Jake Hughes appear to be fluid. 2022 champion Vandoorne is known to have been exploring options away from Stellantis recently but equally could stay. That is likely though to be dependent on whether or not Jean-Eric Vergne transfers across from DS Penske to make way for Barnard. Hughes is known to be in discussions with several teams in the paddock including Jaguar, Envision and CUPRA KIRO.
Gen4 Testing
The latest testing of the all-new Gen4 car continued at the Calafat Circuit in Spain last week with James Rossiter on driving duties. Sources close to the test have told FEN that several issues were reported and resolved in the test, which is one of the last runs before the production cars begin to be readied for delivery to manufacturers in September.
Money Talks
Concern is rumbling along about the costs for teams heading in to the Gen4 era at the end of next year. Several parameters of the package have recently been discussed with some of the concern coming in the form of the two-tiered aerodynamics package and the two types of tyres that are set to be used and how they could impact on testing and development costs initially
Penske Preppin’
Penske is continuing to evaluate the possibilities of becoming a manufacturer in its own right for the Gen4 era. Tech leader and deputy team principal Phil Charles has led a recruitment drive at the relatively new Witney based facility in recent months with new facilities understood to have been added to the headquarters which already included an Ansible Motion supplied Delta S3 DiL simulator.
Rookie Preppin’
Simulators were jam packed across the Formula E paddock last week as intensive work was carried out for rookie drivers, despite several of them in action at the Silverstone Grand Prix meeting where they raced in F3 and F2. The minimum licence grade for Drivers is International Grade B. An international Grade C licence may be authorised with prior approval from the FIA.
Callum Voisin spent time in the CUPRA KIRO sim at Silverstone last week as he prepares for his electric debut. The British driver already has some experience of FE sim work having done several runs for Penske at their facility in Witney, UK, recently.
The annual Berlin rookie test will kick off at 09.00 on Monday with two three hours sessions available. Unlike races there is no limitation on the staff during a Rookie Test, nor a requirement to declare them to the FIA. Additional staff (outside of competition) will be allowed to access the circuit.
London Race Details
The two final races of the 2024-25 season at ExCeL Arena will run to the same distance as last year with Saturday’s more energy demanding race, with Pit Boost stops, being set to 37 laps, while the Sunday event will go to 34. Useable energy will also be the same as 2024 with the specially reduced 27kWh available to teams for both races, with the regular plus 3.85kWh via pit boosting.
Beast Mode Snacks & Cheetah Race-Off
The CUPRA KIRO team has secured MrBeast’s Feastables snack line as a partner on its pair of Porsche 99X Electric Gen3Evo cars. This news comes in the same week that MrBeast issued a new film that re-visits the 2017 Formula E Car v Cheetah idea that won several awards for its production.
Jimmy Donaldson, aka: MrBeast, said that “Formula E is the future of motorsports and shares our vision at Feastables of taking on the world’s biggest and most immediate challenges, whether it’s our mission to source chocolate ethically and get kids out of cocoa fields and into classrooms, or their commitment to sustainability in motor racing. Very excited for what we’re going to achieve together, especially for our fans – this is a fun one.”
This time CUPRA KIRO driver Dan Ticktum faced off against Millie the Cheetah in South Africa under strict animal welfare care. The original video has 61 million views, built over 7 years. MrBeast’s version garnered 61 million views in under 48 hours. CUPRA KIRO Commercial Director Jon Wilde was a central figure in The MrBeast activations and relationship with Formula E in recent months. Click HERE to view the film.
Big London Race Partner Brewing?
Muffled word reaches FEN that off the back of Vodafone Business deal as title partners for this weekend’s Berlin EPrix, that another new title partner for the final races is close to being confirmed. This is believed to be from the film and media industry.
Superb(Man) Livery
The Lola ABT Yamaha team will run with a special livery this weekend in deference to the new ‘Superman’ film which is being touted as a summer blockbuster this month.
The activation is the first step in a new long-term partnership between the two organisations, who will continue to work together to produce and distribute content related to Lola Cars’ current and future motorsport projects as it continues to drive innovation. This includes the Lola Yamaha ABT team, with the Warner Brothers logo being displayed on the car. The jointly produced content will also bring to life the varied narratives of the team’s sponsors and partners.
“This partnership with Warner Brothers is a great milestone for Lola Cars, utilising the motorsport platform to create engaging content not only for our mutual benefit but also that of our sponsors,” said Lola’s Chief Commercial Guru, Keith Smout.
“To kick off this collaboration with a celebration of a film centred around one of the most recognizable superheroes is a statement of the impactful activations we plan to implement together. This is a fantastic opportunity for not only Lola Cars and the team, but Formula E as a whole, to reach new audiences and build excitement around this growing sport.”
Sette Relishing Gen4 Challenge
Sergio Sette Camara has described the Gen4 project to FEN as “ground-breaking” and has a clear goal of racing in the rules set which kicks in at the end of 2026.
The Brazilian, who returns to Formula E at Berlin Tempelhof this weekend added that “it’s 800 plus horsepower, so it’s an F2, but on a street track with an electric engine, instant torque, it’s crazy. I want to be part of it. I don’t think there’s any driver that doesn’t want to be part of it, because the thing is going to be a bullet.
“Everyone wants to watch the quickest, the fastest, the newest thing, right? And the electric engine technology is getting to that place now. I think Gen 5 will be an F1 and draw people’s attention towards Formula E more and more, and I really want to be part of it.”
Herbie goes Goodwood Bananas
Johnny Herbert now a Lola Global Ambassador will drive the Lola T001 Gen3Evo Formula E car up the hill at the Goodwood Festival of Speed this weekend. It will be the first time that Herbert has driven the car, which is the manufacturers official development package.
Descriptive Audio for Visually Impaired
Formula E and its Official Cloud Partner, Google Cloud, announced a new initiative this week to make motorsport more accessible for blind and visually impaired fans through an innovative, AI-powered, audio race report.
Unveiled at the Google Cloud Summit in London by Formula E CEO Jeff Dodds, the project uses Google Cloud’s generative AI technology to create rich, multilingual descriptive audio summaries of every E-Prix race. The reports will provide fans with a dynamic recap that captures the excitement and key moments of the race, available on-demand shortly after the chequered flag.
“At Formula E, we believe the thrill of electric racing should be accessible to everyone,” said Formula E CEO, Jeff Dodds.
“This innovative collaboration with Google Cloud is a fantastic example of how technology can be used for good, creating a brand-new way for blind and visually impaired fans to experience the drama and emotion of our sport.”
To find out more CLICK HERE.
