Formula E Holdings

FEH was founded in the summer of 2012, shortly before winning the tender to organise an FIA accredited electric racing series on the 1 August of the same year.^[2] Founder and CEO Alejandro Agag,^[3][4][5][6] with funding from London based Spanish entrepreneur, Enrique Bañuelos, immediately set about securing a source of cars and other equipment for the series, with FEH and Spark Racing Technology signing a deal in November 2012.^[7] FEH officially ordered 42 examples of what would become the SRT_01E from Spark, and would subsequently distribute 40 of them to future entrants to the series.^[7]

Acting as the promoters of the new FIA Formula E Championship, FEH, having secured a deal for equipment, began arranging both a calendar and a number of sponsors for the series, with hopes of hosting its first race in 2014.^[8] The first sponsorship deal came with the signing of TAG Heuer as the series' official timekeeper, while Michelin and Renault became technical partners of Spark, all in early 2013.^[9][10] Elsewhere the new SRT_01E car completed testing towards the end of 2013, with the first examples delivered to FEH at their Donington Park operations headquarters in May 2014.^[11]

FEH duly distributed the first ten cars, as well as thirty of the thirty-two cars still on order, to teams for testing in July 2014, a test which effectively served as the public unveiling of the series.^[12][13] After a full race simulation all 42 FE cars were shipped to Beijing, China for the first ever ePrix, which was staged on the 13 September 2014.^[14][15] In the build up to the debut race, which was to be won by Lucas di Grassi after a last lap collision between Nicolas Prost and Nick Heidfeld, FEH secured deals with DHL,^[16] BMW^[17] and Julius Bär^[18] to further promote the series.^{[14][19][20][21]}

Shortly before the 2018 Marrakech E-Prix, it was revealed that FEH and the FIA had secured a title sponsor for Formula E, with a deal with Swiss manufacturing firm ABB bringing in $15 million for the series.^[22][23]