P1racenews AI automatic summary:
The Public Investment Fund of Saudi Arabia (PIF) has officially announced a groundbreaking multi-year partnership with Formula E, Extreme E
The Electric 360 partnership was announced, bringing together three all-electric championships in Formula E. The partnership aims to grow electric motorsports and advance electric mobility. It will emphasize the importance of electric championships and their role in sustainable public transport and technological innovation, while prioritizing carbon reduction. PIF, ranked as one of the leading sovereign wealth funds globally, will become the principal partner of each championship and will promote educational programs on electric racing engineering. Additionally, community and social programs will be implemented. The partnership seeks to accelerate global STEM initiatives and drive sustainable mobility change through leadership events and collaboration. Alejandro Agag, the founder and chairman of the championships, considers the partnership a significant milestone and unique opportunity. The collaboration will contribute to a more sustainable future by leveraging EV technology and enhancing the quality of life for people. It will redefine electric sport and support PIF’s commitment to green technological innovation.
