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Vicky Chandhok, who was heading the India motorsports federation when Formula 1 cars vroomed at the Buddh International Circuit for three seasons, aptly sums up the similarities (or the lack of) between the ‘pinnacle of motor racing and Formula E, an all-electric racing series that has made rapid strides since its debut season in 2014.
”There is nothing common in the two cars except four wheels, a steering wheel, a brake pedal, and a throttle. F1 is the pinnacle of motorsport and after that comes Formula 2 and Formula 3 (both F1 feeder series) in terms of performance.
”Formula 1 cars run on the internal combustion engine and you can’t compare to an electric motor used in Formula E. Having said that, Formula E coming to India is fantastic as it puts us back on the world motorsport map,” Chandhok told PTI.
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With electric cars expected to fill public roads over the next 10-15 years, Formula E is ‘racing with a purpose’ while Formula 1 is the epitome of performance.
When it comes to top race speed, the turbocharged Formula 1 machines can touch speeds over 360kmph while the Gen 3 Formula 2 cars, which will be introduced next year, can go up to 320 kmph.
The current Formula E cars have a maximum speed of 280 kmph. Besides that, there is a huge difference in cornering speeds as well.
A Formula E car is designed to race on street circuits around the world with a focus on sustainability than speed.
The inaugural race in Hyderabad is scheduled for February 11, joining the likes of New York, London, and Rome on the Formula E calendar.
Viewership
With Liberty Media taking over the ownership of Formula 1 in 2017, the viewership numbers have seen a massive increase. With the 2021 season going right down to the last lap, more than 1.5 billion watched the epic title fight between Max Verstappen and Lewis Hamilton throughout the 22-race season.
In contrast, Formula E reportedly drew 316 million viewers last year over a 17-race season. The series had seen a high of 419 million in the 2018-19 season before the pandemic hit the world.
Budget
The top Formula 1 team used to spend more than USD 200 million in a season until the budget cap was introduced which has limited the spending of all teams to USD 145 million.
On average, a Formula E outfit spends around USD 15 million in an entire season. The low costs have attracted major auto manufacturers, including Porsche, Mahindra, Nissan, Jaguar, and most recently, McLaren to test their electric programs.
”From a manufactures point of view, it is a fantastic series to compete with each other in identical chassis. We will get to see the Tata-owned Jaguar and Mahindra racing against each other next year,” said Chandhok.
Can a Formula E weekend lift Indian motorsport?
Chandhok, who as a racer and administrator has seen Indian motorsport for decades, has his doubts if one race can actually make a difference.
”From an event point of view, it will surely increase the awareness around motorsport in the country but I think it will just come and go. It won’t give any boost to Indian motorsport,” Chandhok reckoned.
‘Formula E prepared for potential tax and bureaucratic hurdles’
More than the customs, it was the issue of taxation that had scared away Formula 1 from India nine years ago. The financial health of race promoter Jaypee Group also became a factor.
While the Formula E race is fully backed by the state government of Telangana, the series officials will also have to deal with the central government before their arrival.
”Those issues in Formula 1 were more related to tax. We have very good tax advisors, we know the challenges, and we know the potential risks and liabilities that we have.
”We have done our homework on that front. If all goes to plan, I see a long-term future for us in India,” Formula E co-founder Alberto Longo had told PTI last month.
There is still a lack of clarity over whether Formula E teams will be taxed, but the single window for customs clearance should make the entry of equipment easier.
The state government and central government will also need to be on the same page for the smooth conduct of the event.
”With the state government involved this time, there will be no messing around. When Formula 1 left India, custom clearance was the smallest of the problems. Notices from the tax department to F1 teams, drivers, and F1 itself scared them away.
”I hope the political differences between state and center won’t become a stumbling block. I vividly remember the Jaypee Group had to pay Rs 10 crore towards the National Sports Development Fund every year to get the central government’s approval. Once the approval came three days before the race.
”India will be hosting a Formula E race which is the newest technology of racing and we should be proud of that. It is going to give us global eyeballs,” added Chandhok.