Formulation 1 and Formulation E might have used the complete Monaco Grand Prix circuit inside two weeks of one another, however Formulation E CEO Jamie Reigle sees no want for the championships to contemplate holding joint occasions.
The sequence’ former CEO Alejandro Agag has stated a merger or joint occasions between the 2 is fascinating. However chatting with RaceFans on the Monaco EPrix, Reigle defined why he believes they need to stay distinct.
“I can’t converse for Alejandro, however what I can say is Formulation E may be very particular. It’s electrical, it’s in cities, it has a number of the most well-known, strongest producers.
“So we now have some factors of differentiation which are actually sturdy, which are laborious to copy and whether or not we’re a motorsport or whether or not you’re a product firm, whether or not you’re a service firm, probably the most profitable companies are likely to have actually sturdy factors of differentiation that they don’t waver from.”
Reigle took the reins at Formulation E in January 2020, in what proved a attempting interval for the city-based championship. “What I’ve been attempting to do for the final 12 months is de facto focus our messaging round that dedication to cities, a stability of the racing and the rationale,” he defined.
“It’s a sport, however there’s a broader goal right here by way of what we’re attempting to attain, by way of showcasing the way forward for sport and sustainability. We’re a platform for our groups and producers to showcase the most effective know-how and that interaction [with] human endeavour. That’s actually vital that we will do this.
“If we do this and keep focussed on these factors of differentiation, I believe we’ll achieve success.”
Nonetheless Reigle admitted there was a possible case for racing on tracks constructed for each sequence, because it has executed in Monaco and Mexico. “If you have a look at whether or not we should always race in parallel or alongside Formulation 1: there’s an effectivity argument round that, proper? There’s a observe already constructed, for instance, so there’s a value effectivity level.
“There’s an alignment with, maybe, a number of the producers having some publicity to a broader viewers. However for my part, Formulation E is particular due to these factors of distinction. And we should always double down on these and actually lean into them. And if we proceed to do this, we’ll be in nice form.”
Working joint occasions with F1 isn’t a part of Reigle’s imaginative and prescient for his sequence. “I wouldn’t see it as a part of a method or a route we’re essentially trying to take,” he stated.
“My view has at all times been: If we will develop Formulation E in a manner that implies that it’s actually aggressive race, it’s a very compelling sporting spectacle, there’s loads of room for each Formulation E and Formulation 1.
“There’s going to be some followers who like each, there’s going to be some followers who lean into one or the opposite. And that’s okay.”
Regardless of F1’s significantly better attain, Reigle is sceptical of any advertising and marketing acquire from sharing their platforms. “Our job is to develop our fan base and if a Formulation 1 fan comes over as a result of she or he loves the racing and loves the distinctive product, I believe that’s that’s an excellent factor.
“I don’t assume we must be at a Formulation 1 observe to do this, although.”