Formula E and the Municipal Administration and Urban Development Department (now under control of the new Government of Telangana) are in discussions regarding the Host City Agreement signed on 30 October 2023, and the staging of the Hyderabad E-Prix scheduled for Saturday, 10 February 2024.
Following a recent official communication received from the new Government of Telangana, Formula E is seeking urgent clarification of their contractual commitments under the agreement and how it could impact the Hyderabad race. Based on the content of the letter received, Formula E is concerned the race will not be able to go ahead as planned.
Formula E’s senior executive team met with the new leadership of the Government of Telangana immediately following elections earlier this month. Discussions have been ongoing since then.
With the event just a few weeks away and in its final stages of preparation, Formula E, partners and suppliers have already made significant commercial investments in the event. The inaugural Hyderabad E-Prix in February this year returned almost 84m USD in positive economic impact to the region, many times more than the overhead costs invested by Formula E and the Government of Telangana.
Hyderabad is set to host the only official FIA World Championship event in India next year, alongside other iconic world cities including Tokyo, Shanghai, Berlin and London, as part of a multi-year agreement between Formula E and the Government of Telangana.
Further updates will follow in due course.
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