Mexico is synonymous with party for Formula Ethe most prestigious electric car circuit in the world and endorsed by the International Automobile Federation (FIA).
Not only is it a must-see stop since the second season of this competition (2016), but it has allowed it to build a mass of 6.5 million fans and economic benefits that range between 85 and 100 million dollars per edition.
The mariachis and chants at the Hermanos Rodríguez racetrack are already a fixed ingredient for sport in Mexico at the beginning of the year, remembering that the Grand Prix of Formula 1the other great inhabitant of this property, is celebrated near the Day of the Dead.
But there is something that does not fit into the equation: Formula E does not have a secure contract with Mexico beyond the ePrix (career) 2026.
“The situation is very clear: it has not yet been renewed,” he responded. Alberto LongoCEO and co-founder of Formula E, asked by The Economist ahead of this year’s ePrix, which will be held on Saturday, January 10.
“It’s true, there is a lot of intention on the part of the championship and I think on the part of the authorities as well to do it. We are negotiating the asset with the city and governors so that, in some way, they show us some support,” he clarified.
Formula E Mexico Calendar
Numerical overview
In an interview he gave to this newspaper in 2020, in the last edition before the pandemic, Longo revealed that the cost of a Formula E race exceeds 5 million dollars between logistical issues and human resources.
According to records from various media, the circuit has already had at least two contracts with Mexico to hold 11 races between 2016 and 2025, nine in the Mexico City and two in Puebla.
But the future remains to be specified, in which Alberto Longo highlighted the search for another five years, that is, at least until 2031.
“If I had to put a percentage on the renewal today, I would say it is a high percentage because I see that both the municipality (sic) and Formula E want to reach that long-term agreement. That, at five years, would be the minimum period that we would observe for that desired renewal.”
From 2023 to 2024, Formula E’s global losses increased more than 87% to $92.2 million, SportsPro reported.
Although it currently has at least one race in 10 countries on three continents, it is not yet characterized as a competition with high financial impact.
However, the plan before reaching the next decade is to grow the calendar to at least four continents and go from 17 races per season to more than 20.
Alberto Longo insisted on putting Mexico as the axis of this evolution, despite the fact that every time he is questioned about the authorities’ support for the ePrix of the Rodriguez Brothers The answers are not 100% positive.
“For us, Mexico has a very important strategic situation, regardless of the fact that of course we are going to increase the number of races in America in general. We want to have between five and six races in this continent, another five in Asia, another five in Europe and between two and four in the rest of the world. That means that we would be talking about 17 or 18 major cities in the world, up to a maximum of 22 or 24 races, depending on the number of double races we would like to do.
“Strategically we are very clear: we want to reach 2030 like this, but far from presenting a decline for Mexico, I think it will join a list of great cities in the world and, on top of that, being an almost founding city because we have been here since year two.”
However, he explained about the negotiations with authorities: “We are not requesting the same support as other international events, despite being as important as they are, but ultimately we would like that support to translate into us staying in Mexico for a number of years.”
Before other microphones, he also declared: “We have nothing to claim from anyone, but we would love to have some support. The responsibility is ours, because we have said that we are going to come to Mexico regardless of whether there was support or not. It has been a wrong strategy.”
According to figures shared by Formula E itself, more than 50% of its fans in Mexico are 44 years old or younger. Globally, women account for 49% of their followers.
—What are the growth expectations for Formula E in Mexico?
“Mexico is absolutely important for Formula E. It is a date that is always kept on the calendar for different reasons, not only because 50,000 people go, but we are talking about the fact that it is a huge market of influence both in Central, South and North America, a gigantic market for our entire ecosystem, including manufacturers, teams and partners global. We would like to come next year and say that we have grown again at 10 or 12%. That would mean being close to 8 million fans in Mexico, but it is becoming more and more complicated for us. We will have to continue attracting the public in a very special way,” concluded Alberto Longo.
