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Is Saudi Arabia Taking Over Electric Motorsports?
20 Feb 2024 | Abstracted from Forbes
"In January, Saudi Arabia PIF sovereign wealth fund...announced a three-way partnership with the leading electric motorsports series, Formula E, Extreme and E1 powerboat racing.
"People have asked if it's a paradox that a country of oil is sponsoring electric. But it's exactly what they're looking for because they want to diversify...We are doing exactly the opposite of greenwashing..We are advancing the innovation of transportation that makes a real difference."
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