If you've been yearning for some electric road-racing action of the four-wheeled variety, rest assured, plans for the FIA Formula E Championship are firming up and moving forward. In fact, Rio de Janeiro has just officially signed up to host one of the events in 2014, possibly near Gloria Marina.

The organizational structure has also been put in place with the Federation Internationale de l'Automobile (FIA) handing off the commercial rights to a consortium flying under the banner of Formula E Holdings Ltd (FEH). The CEO of that group is Alejandro Agag, and he's spilled a few details about what we might expect to see.

Perhaps the most interesting bit pertains to how they plan on racing longer than one battery pack's worth of energy allows. Instead of swapping batteries like one might expect, teams will be actually swapping cars. This is revolutionary, not only because it allows for nearly non-stop action, but also because it turns auto racing into a true team sport. Like a relay race.

The series will also have a potentially more exciting method for awarding pole position. Going against the tradition of deciding race order by timed laps, Formula E will employ head-to-head "playoffs." Think tennis.

While there will be some demonstration events staged in 2013, the serious action begins with a 2014 season and plans for 10 teams with 20 drivers. Besides Rio, interest has been expressed for races in Monaco and Mexico. Organizers hope to hold rounds in a number of cities across the globe.

As for the cars, expect to see FIA-homologated one-seaters similar to the FEH-owned Formulec EF01 prototype (pictured). Team selection is expected to get under way soon with interest being expressed from both traditional racing teams and global brands. Of course, we can't help but hope some American concerns – like Kleenspeed, for instance – get involved.

Scroll down for an official press release along with an illuminating Q&A featuring Mr. Agag.

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FIA Formula E Championship
New FIA Formula E Championship Powered by electric energy

The Federation Internationale de l'Automobile (FIA) has reached an agreement to licence the commercial rights of the FIA Formula E Championship to a Consortium of international investors.

Formula E is a new FIA championship featuring Formula cars powered exclusively by electric energy. It represents a vision for the future of the motor industry over the coming decades.

The new promoter, the consortium Formula E Holdings Ltd (FEH) has as anchor investor London based entrepreneur Enrique Bañuelos. Former MEP and racing team owner Alejandro Agag, with long experience in the motor sport business, will be the CEO of FEH, as well as shareholder of the company. Also associated with the project are Lord Drayson, Managing Partner of Drayson Racing Technologies, and Eric Barbaroux, Chairman of the French electric automotive company "Electric Formula".

Demonstrations of the Formula E cars will start in 2013, followed by the first race in 2014. 10 teams and 20 drivers will participate in the competition. The races will be ideally staged in the heart of the world's leading cities, around their main landmarks.

Jean Todt, President of the FIA said: "I would like to thank all the parties involved. This new competition at the heart of major cities is certain to attract a new audience. We are pleased with this agreement with Formula E Holdings as they bring a very strong experience in MotorSport. The new events will provide a great way to engage the younger generation. This spectacular series will offer both entertainment and a new opportunity to share FIA values with a wide audience as clean energy, mobility and sustainability. This is a great day and a strong message to the motor sport community. The FIA is definitely looking to the future!"

Alejandro Agag, CEO of FEH said: "We are very pleased with the agreement reached with FIA. We see this as a great opportunity to create a new and exciting spectacle mixing racing, clean energy and sustainability, looking to the future. We expect this Championship to become the framework for research and development around the electric car, a key element for the future of our cities"

The series will be open to any cars sanctioned as Formula E by the FIA. The Consortium will ensure that a Formula E Car, based on the Formulec EF 01 prototype already in operation, is available for those competing teams willing to race with it.


FIA Formula E Championship Q & A with Alejandro Agag, CEO, Formula E Holdings

Q. Why promote a car competition like Formula E now?

A. The automotive industry is currently going through a process of significant transformation that will become increasingly visible. New and more sustainable technologies are being introduced, which will make cars more efficient and environmentally friendly. In this transformation, the electric car will play a key role, as the most practical and immediate way to achieve these goals. We are convinced that the future of auto motion, particularly in cities, is electric. The promotion of clean mobility and sustainability is a priority for the FIA, so joining forces to set up the first sustainable global motorsport championship is a great opportunity for us.

Q. What objectives do you want to achieve with this new Championship?

A. We have 3 main objectives: The first is to create exciting and competitive racing. This will be a real competition between cars and drivers, where the best technology and the best pilot will win. We want to create a show for all ages, focusing on the younger generations that identify with many of our values. The second is to become a framework for the research and development around the electric vehicle (EV). Battery life and efficiency of electric engines are two fields in which many global corporations are investing vast resources. Technological breakthroughs in these fields will take the electric car to a different level. We would like to become the testing ground for those advances. The third is to make people believe in electric cars. Believe in the power of these cars; believe they work. To make people believe that they need an electric car and a more sustainable lifestyle. Many people don't think about buying an electric car because they don't know the facts about them. We want to show everyone what these cars can do.

Q. The races will take place in city centres, why is that?

A. We believe that cities are the natural environment for electric cars. The extended use of EV will play a very important part in reducing city air pollution. We want to race in the heart of some of the leading cities in the world. Cities committed to clean mobility and sustainability. We think we can be of help to those cities that are promoting the use of the electric car, by making it more popular.

Q. Do you have any cities already in mind for 2014?

A. We are just beginning the process of contacting potential candidate cities. The first city that has confirmed its willingness to host an Electric Grand Prix has been Rio de Janeiro. Both Mayor Eduardo Paes and Governor Sergio Cabral enthusiastically support the project. Rio is a city with a special commitment to sustainability, as the recent global environment summit has shown (Rio+20). Also, Rio will host games for the forthcoming Football World Cup in 2014 and the next Olympics in 2016. We will be proud to race there from 2014 onwards. We have also received interest from other parts of the world. In Mexico we are coordinating with key figures including Carlos Slim Domit (escuderia Telmex) and Federico Alaman (CIE), to identify which would be the best location in the country.

Prince Albert of Monaco has publicly stated his support for the electric car and his wish to host an Electric Grand Prix in Montecarlo. We would obviously love to race in a place with such a long and beautiful racing tradition.

We will of course look for cities in North America, Europe, Africa, Oceania and we will place particular emphasis on Asia. Countries like China are investing huge resources in the promotion of the use of EVs. We think we can contribute to that effort.

Q. What will a Formula E car be like?

A. Formula E cars will be single seaters with amazing acceleration, able to reach speeds of over 200 km per hour, the only difference is that they will be solely powered by electric energy. The championship will be open to any car homologated as Formula E by the FIA. We as promoter want to guarantee that there will be a full grid of cars at the beginning of the first season in 2014. FEH owns the most advanced technology currently in use in electric Formula cars, and the only Formulec FE01 prototype.

Q. How will the races be structured? How many teams, drivers etc?

A. The Electric Grand Prix will be very different - we want to organise a new kind of racing event. The first main feature is that it will all happen in one day. We will introduce many new features. Just two of which will be that the pole position will be the result of playoffs, with cars racing one against another, in a format similar to tennis or champions league. The second is that in the pit-stop, the driver will not change tyres or batteries, they will change car! We expect to start the 2014 season with 10 teams and 20 drivers then possibly add a further one or two teams in 2015 or 2016. We are already in touch with many interested parties that would like to compete in the Championship; from traditional racing teams, to big global brands. We will shortly start the selection process for competitors that will be finally approved by FIA.

Q. Who will be your main partners?

A. We are open to partnerships with companies and individuals that identify with the values our Championship represents. We think this is an interesting alternative for companies directly related to the electric car, such as electric companies, batteries manufacturers and car companies that focus on electric. However, we also see partners for this championship being all of those companies that place sustainability and the use of clean energy at the top of their agendas. We think we can be an alternative for companies that haven't yet found a sponsorship opportunity that really fits with their corporate values.