LONDON (Reuters) – The all-electric Formula E series has postponed for a year the introduction of its new Gen2 Evo car as part of cost-saving measures agreed unanimously by teams, manufacturers and the governing body.
The series said in a statement on Thursday it had acted to promote the long-term financial stability of the championship in the face of the new coronavirus pandemic.
Manufacturers will now be able to alter powertrain components only once over the next two seasons, halving development costs.
“Teams can either introduce a new car in season seven, for a two-year cycle, or continue to use existing technology for the next season before homologating a new car the year after for a single season,” it said.
Formula E founder and chairman Alejandro Agag said the series, whose current season runs from November 2019 to July 2020 but has been suspended due to the virus, had taken a flexible approach.
“We listened to feedback from the teams and manufacturers and worked closely with the FIA to push back the launch of the Gen2 EVO and limit teams to a single homologation over the next two years,” he said.
“By doing so we have cut the projected car development costs in half. This was a necessary action to take to contain costs, given the health crisis and economic environment.”
(Reporting by Alan Baldwin, editing by Pritha Sarkar)
