India's Mahindra Racing joins Formula E

NEW DELHI Thu Nov 28, 2013 5:19pm IST

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NEW DELHI (Reuters) - Mahindra Racing will join the new Formula E electric racing series starting next year as the eighth, and only Indian, team, the Mumbai-based Mahindra Group said on Thursday.

The $16.2-billion multinational group said it had signed an agreement with Formula E Holdings to join the series starting in China in September, with races in 10 leading cities including Berlin.

"We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology," group chairman and managing director Anand Mahindra said in a statement.

The group, which manufactures Mahindra Reva electric vehicles, said joining Formula E was a "natural step".

"With advanced operations and expertise in electronics, IT, automotive technologies and manufacturing, we are already seeing the fusion of this technology into our electric vehicle operations," Anand said.

"Racing will further accelerate that trend while Formula E is set to raise awareness globally about the benefits of electric vehicles."

Mahindra Racing is no stranger in motorsports, having joined MotoGP in 2011.

"We are very proud to have a major global company like Mahindra join the FIA Formula E Championship," Formula E Holdings chief executive Alejandro Agag was quoted as saying in the statement.

"Adding a manufacturer from India to what is already a real global mix of teams is fantastic news for the series. Everything is coming together very well and we look forward to presenting all 10 teams to the FIA World Motor Sport Council next month."

India has a Formula One team in Force India but there is no Indian driver on the F1 grid.

(Editing by Clare Fallon)

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