I See Long-Term Future For Formula E In India: Co-founder Alberto Longo

Formula E co-founder Alberto Longo sees a long-term future for all-electric world championship race in India and exuded confidence that the bureaucratic hurdles and taxation issues, that had pushed Formula 1 out of the country, won't scuttle their plans since they have done enough "homework" to manage that.

Londo also said the series may find it tough to achieve the popularity enjoyed by Formula 1 but it is already more relevant.

Speaking to PTI on the sidelines of the first ever Formula E race in Jakarta, Longo sounded confident about going to Hyderabad next year.

The first ever electric race in India is expected to take place on February 11.

"The FIA World Motor Sport Council is meeting in 20 days. After that we will make the announcement of the calendar. Hopefully, Hyderabad would be part of the calendar. I am talking to them on a daily basis and hopefully we will reach the finish line soon," Longo said in an interview.

"India is a massive market for us, a tier 1 market for us. You don't know what the future brings but the intention is to stay there for a long time. It won't be a 20-year contract to start with. It would be a medium term deal and hopefully we extend it four or five years." Formula 1 came to India in 2011 but could survive only three seasons due to promoter's financial health and taxation issues. The bureaucratic red tape can also prove to be a hurdle in India with organisers having to deal both with the state and central government.

"Those issues were more related to tax. We have very good tax advisors, we know the challenges, we know the potential risks and liabilities that we have. We have done our homework on that front. If all goes to plan, I see a long term future for us in India," said Longo.

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