15 With most of the world’s transport still powered by polluting fossil fuels, phasing out petrol and diesel cars and promoting more environmentally friendly electric vehicles are crucial steps for governments around the world to meet decarbonization and net-zero targets. “The combination of sustainability and innovation seen in the Formula E racing series has encouraged the Group to collaborate with Andretti, due to the similarities in their work and goals, Prysmian Group’s Chief Innovation and R&D Officer Srini Siripurapu said during the summit. “I think one of the reasons why we decided to do this is that when we look at Formula E and at what the team is trying to do, there are some similarities with the opportunities and the challenges that we face, like pushing the boundaries of innovation and combining them with efficiency and sustainability,” he added. To help fight climate change, government and municipal authorities have introduced laws and incentives to encourage decarbonization of road transport. This presents risks but also opportunities to develop new products and services for companies including manufacturers and suppliers. Siripurapu said Prysmian Group is leveraging its involvement in the Formula E series to further advance in different aspects of technology with a vision on how the latest innovations can be implemented on a larger scale. “We are focusing mainly on materials, sensors and monitoring, and we are coming up with a deeper understanding of the electric vehicle charging infrastructure needs and opportunities in these areas”, he added. Notwithstanding some of the downsides of a widespread roll-out of electric vehicles like the availability of the charging infrastructure, the implications of charging times, and the upfront cost, the benefits are undeniable: helping to reduce polluting emissions, the advantages of electric cars also include reduced maintenance, lower operating costs, enhanced efficiency and reduction of noise pollution. “Formula E has been built around racing in cities because that is where we have on the one side the problem of air pollution and on the other side the advancing of electric vehicles. This is a unique perspective, which makes it really difficult from the logistical point of view, but, at the same time, turns out to be an extremely powerful backdrop”, she claimed. “Now in its nineth season, the Formula E series has been experiencing a remarkable year-onyear surge in terms of social media and broadcast figures”, she added, “fueled by interest from younger audiences, such as families, concerned about how climate change could impact the future of their children”. Expectations are high in the industry that sooner or later the Formula E could converge with the more traditional Formula 1 racing series. Wright said that the timing of this convergence would likely be linked to how quickly the technology can develop. “With the available technology we can afford 40-minute races Formula 1 races are much longer, they are about 1 hour and 40 minutes,” he said. “When batteries will be capable of providing the energy required for the same time, that will be the point of convergence”. RISKS AND OPPORTUNITIES INSIGHT | Going Green and Digital Formula E seeks to increase public understanding and interest in the sustainable side of electric mobility. At the same time, it is also an ideal arena for new technologies to be tested. Formula E Sustainability Director Julia Pallé confirmed that races take place on street tracks in cities on purpose and as a way to raise awareness on these advantages and benefits.
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