The first race will take place in Bejing in September, followed by races in a total of 10 cities around the world, including Los Angeles, Rio de Janeiro and London.
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The first fully electric auto racing championship will soon get a green flag. Though similar to Formula 1 or IndyCar, Formula E features high-speed electric cars that can go 0 to 62 mph in just three seconds.
"We want to change the perception of people about electric cars. People still think of electric cars as slow, as non-cool," said Alejandro Agag, CEO of Formula E, on CNBC. "We want to change that completely, show these cars racing and in action."
The cars are fast, too, with maximum speeds of about 150 mph. Noted auto makers McLaren, Williams and Renault have designed and built Formula E cars.
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