It seemed like the year would come crashing down on motorsport enthusiasts in India, while we have known for a while that Formula One management had ruled out chances of any races in India in the near future citing high tax rates as the primary reason, the more recent news of the Formula One circuit being seized by Government authorities was even more upsetting. Now in what seems like dark times, a glimmer of hope appears in the form of Formula E with Mahindra announcing at a press event in Mumbai yesterday that they were in talks with the government and local authorities to try and find a suitable place to hold the race which is traditionally held on street circuits.
Interestingly, Mahindra Racing said that while the FIA (organisers of the Formula E are keen on bringing the race to India. The Formula E which is a parallel championship to the Formula One races held all around the world, uses only electric cars for the purpose. The series has gained quite a lot of momentum over the few years that it has participated with names like Audi, Mercedes already on the grid and the remaining all having announced their participation in the next season or in the near future. Mahindra Electric is also one of the first participants and has been a strong contender in a number of races.
With the Force India name being officially dropped from next years grid, it will be a chance for Indian racing fans to cheer for their own car on the grid and might even bring some added viewership to the race. Mahindra also unveiled their Formula E race car yesterday, christened the M5Electro. The new car features a new EV powertrain, that will allow it to go from 0-100 kmph in just 2.8 seconds with a top speed of 280 kmph!
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.