Advised Formula E Holdings on financing of electric racing car series set for London in 2015
LONDON (May 22, 2014) – Morrison & Foerster has advised Formula E Holdings in relation to the Series A financing of its new Formula E Championship, the highest class for single-seater, electric-powered racing cars. The series is set to get underway in September, in Beijing.
The Formula E Championship will host drivers battling it out in 10 cities across four continents, with a race due to take place on the streets of London in June 2015. It will utilize the latest in automotive technology to provide a form of racing that is exciting, cost-effective, and environmentally friendly.
Numerous high-profile figures have given their backing to the competing teams, including actor Leonardo DiCaprio and Virgin's Richard Branson. Team principals will include four-time FIA Formula One World Champion Alain Prost.
The Formula E Championship has attracted a wealth of experienced drivers, including Formula One race winner Jarno Trulli, Indianapolis 500 winner Sébastien Bourdais, and other household motor racing, names such as Nick Heidfeld and Takuma Sato.
Corporate partner Ed Lukins led the Morrison & Foerster team, with associates Greg Joynson and Adam Westhead.
Mr. Lukins said: “This is a brilliant opportunity for MoFo to get involved with the future of motor racing. The Formula E Championship will be a dynamic series which combines cutting edge technology with an overall focus on environmental protection. Working closely with Formula E Holdings proves the expertise we possess in this industry.”