FORMULA E-Prix Grand Finale CEO Jeff Dodds revealed that the upcoming event holds substantial promise for Malaysia’s economy. Jeff outlined projections suggesting that the event slated for next year could inject a remarkable RM157.5 mil into the local economy through visitor spending, while also generating over 10,000 job opportunities.
In a letter addressed to Prime Minister Datuk Seri Anwar Ibrahim and copied to Tourism, Arts, and Culture Minister Datuk Seri Tiong King Sing, Jeff noted the significant and enduring economic benefits expected from hosting the race.
He estimated that over the next decade, the Formula E-Prix could contribute a staggering RM6.73 bil to Malaysia’s economy with ripple effects anticipated to extend further.
“Beyond direct financial gains, the race is poised to spur investments in sustainable infrastructure, creating a legacy of innovation and green tech advancement,” the letter read.
Citing the success and widespread appeal of Formula E in various global locations such as Sao Paulo, Monaco, Tokyo, and Shanghai, Jeff asserted Kuala Lumpur’s suitability as the 2025 finale host city.
Moreover, Jeff outlined several factors contributing to Kuala Lumpur’s appeal including Anwar’s forward-thinking approach to electric vehicle adoption and his administration’s proactive stance on sustainability.
According to him, Kuala Lumpur’s status as a globally recognised city center state coupled with its logistical strengths in terms of fan accessibility and transportation for Formula E race cars, further solidifies its position as an ideal host city.
“Furthermore, Malaysia has ready and existing infrastructure in place to host this event.”
However, recent reports suggested a potential risk of losing the hosting rights to Thailand, prompting Formula E’s extension of an invitation to Kuala Lumpur to host the event’s final race annually until 2030.
Formula E local partner Sports Tech Holding confirmed its eagerness to engage with the Prime Minister Office to discuss hosting arrangements for the prestigious event. Formula E, recognised officially as the ABB FIA Formula E World Championship, represents a groundbreaking open-wheel single-seater motorsport competition exclusively for electric cars. – March 14, 2024
Main photo credit: Assembly Magazine
