Formula E and FIA agree contract extension to at least 2048
The Liberty Global-controlled series said the 10-year extension, with sources indicating an option for a further five years, provided a solid platform for long-term growth and investment opportunities.
Formula E expects its cars to be on the same level as, or exceeding the performance of, other top tier series including Formula One by the middle of the century.
The current Gen3 Evo car can already accelerate from 0-60 miles per hour (0-96kph) in 1.82 seconds, 30% faster than a Formula One car with a top speed of 200mph (321kph).
"We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed," said Liberty Global CEO Mike Fries.
"With the FIA's continued backing, we can now take the next big steps -- scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve."
Formula E chief executive Jeff Dodds said the series had shown extraordinary growth in 11 seasons so far.
"With this longterm extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational," he said.
The current Formula E season closes in London with two races in London this weekend. The drivers' title has been won already by Nissan's Oliver Rowland.
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