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The Street
The Street
Business
Rob Lenihan

Formula E Shows Raw Power of Electric Vehicles

The atmosphere is electric -- in more ways than one.

Anyone attending the ABB Formula E electric vehicle race in New York on July 17 might have thought a swarm of bees was heading their way.

All-Electric Racing Series 

Unlike traditional motorsports, there is no deafening roar of engines, nor clouds of exhaust fouling the air. There are no days of thunder here, just plenty of lightning.

A temporary 1.3 mile race circuit was set up at the Brooklyn Cruise Terminal in Red Hook. The race was 45 minutes long and since the cars don't require gasoline, there were no pitstops.

DS Techeetah driver Antonio Felix da Costa took first place, followed by Stoffel Vandoorne of the Mercedes-EQ Formula E Team and Jaguar TCS Racing's Mitch Evans.

Formula E, which made its debut in the grounds of the Olympic Park in Beijing in 2014, is an all-electric racing series. Formula 1 showcases hybrid racers with internal combustion engines powered by fossil fuels.

Current all-electric racers can reach a top speed of 280 km/h, or about 174 mph and they can accelerate from 0-100 km/h in 2.8 seconds. Formula 1 vehicles have a top speed of 300 km/h or about 187 mph.

Mercedes said last year said it was leaving Formula E after the 2022 season to focus its plans to electrify its road vehicles. Volkswagen's (VWAGY) Audi and BMW also announced that they be leaving Formula E.

'Testing New Technologies'

Enel X Way is the official smart charging partner of Formula E. Based in Rome, Enel X Way is Enel Group's business line entirely dedicated to electric mobility.

"Formula E is not intended to rival Formula 1," Enel X Way says on its website. "Rather, its founding mission is to accelerate the transition to zero emissions mobility by testing new technologies on the race track before rolling them out for public use."

Enel X Way hosted an event at the Classic Car Club in Manhattan on July 17 that featured a panel discussion on the future of electrification.

The panelists included Elisabetta Ripa, Enel X Way's recently appointed CEO, Scott Tinkler, senior managing director at Accenture, Vicki Kuo, senior vice president of energy efficiency for Consolidated Edison (ED). The discussion was moderated by Rob Lenihan from TheStreet.com.

"Enel X Way will strengthen partnerships with electric vehicle manufacturers, private companies and public institutions guaranteeing customers access to an extensive and widespread public charging network and further accelerating electrified transportation," Ripa said.

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