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Saudi Arabia’s Public Investment Fund (PIF) has partnered with Formula E, Extreme E, and the new E1 electric powerboat racing series as part of its new Electric 360 program to support the growth of…
Saudi Arabia’s Public Investment Fund (PIF) has formed a partnership with Formula E, Extreme E, and E1 as part of its new Electric 360 program, aiming to support the growth of electric motorsport and promote sustainable transport and mobility initiatives. This multi-year agreement is the first of its kind and seeks to drive innovation and reduce carbon emissions in each category. PIF, known for its sustainability efforts and global ranking as a top wealth fund, aims to showcase its commitment to progress and transformation. Electric 360 will not only support the racing series but also focus on education, with STEM initiatives and apprenticeship programs worldwide. Saudi Arabia has become increasingly involved in motorsport, hosting Formula 1 races and partnering with various teams and events. The country will soon host Formula E, Extreme E, and E1 races, further solidifying its role in the motorsport landscape.
