Paris E-Prix – Energy company Envision has become the majority owner of the DS Virgin Racing Formula E team, it was announced on Saturday.
Envision is a world leading renewable energy and technology company based in Shanghai, and is committed to creating clean energy as the Virgin team aims to become carbon neutral.
“We’re delighted to welcome Envision to the team and to Formula E,” said team principal Alex Tai.
“Today’s announcement solidifies what we’ve always stated about the team which is our intent to win, and our desire to power innovation both on and off the track; with Envision we can help power innovation within the energy transition in which we are all engaged.
“Together with Envision we will showcase thought leadership and developing technologies which will power this transition and the future of transportation. Our racing team just became stronger with the addition of Envision and our purpose became more tangible.”
The announcement was made ahead of the Paris race, which will be attended by Sir Richard Branson who is leading a Race Against Climate Change Summit with industry leaders to discuss action again climate change and the move to renewable energy supply.
“The electrification of the transportation system means that the future of the energy and mobility sectors are intertwined,” said Envision CEO and founder Lei Zhang.
“Electric vehicles, once integrated in the wider energy ecosystem, will be instrumental to enable the renewable energy transition.
“Envision and DS Virgin Racing share an ambition to accelerate the energy transition, where everyone has access to clean, secure and affordable energy, with this investment we will work with the DS Virgin Racing Team to create the future of clean e-mobility.”
Want the latest Formula 1, Formula E & IndyCar news sent directly to you? Subscribe here!