18 Nov '13, 10pm

Report: Renault ready to support Formula E electric racing

Report: Renault ready to support Formula E electric racing

is taking the "what's good for the goose is good for the gander" approach by offering some financial backing for the Formula One-style all-electric vehicle racing circuit set to debut next year. The French automaker will work on engine-integration technology for a number of the racing teams on the Formula E circuit, Reuters reports. Michelin has also joined as a Formula E sponsor. Renault's support stems from the belief that the circuit will help publicize the value of electric vehicles and ultimately help sales of vehicles made by the Renault-Nissan Alliance. The company is citing a rather optimistic Ernst & Young study that says the races may help increase global EV sales by as many as 77 million units during the next quarter century, or by more than 3 million a year. Such purchases would cut oil consumption by four billion barrels, or about two-and-a-half times Japan's ...

Full article: http://green.autoblog.com/2013/11/18/renault-ready-to-sup...

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