PETALING JAYA: Malaysia is losing the race to host next year’s Formula E-Prix final to Thailand despite first having the event within its grasp.
Formula E is understood to have extended an invitation for Kuala Lumpur to be the host city of its final race annually until 2030, but the government has yet to respond to the offer.
A source said Formula E CEO James Dodd had last month sought an appointment with Prime Minister Anwar Ibrahim to discuss the event and the benefits that accompany it.
The cost of staging the event, now in its 10th season, is not known.
News of the possibility of the event slipping away from Malaysia has come on the heels of a raging controversy surrounding an attempt to stage the 2026 Commonwealth Games in Kuala Lumpur.
The Olympic Council of Malaysia is in the forefront of the audacious campaign that many say may be detrimental to the economy.
There is a general feeling that the government should secure events that are fresher and have a global appeal, rather than those that are financially burdensome.
The source said Formula E needs to make a decision soon on which city will host the last race on its calendar.
Confirmation of participation would need to be established by June this year to allow ample preparation for the 2025 Formula E calendar.
“Despite Malaysia getting the first bite, Thailand looks likely to capture the hosting rights,” the source said.
Dodd wrote on X that he recently met with Thailand’s Prime Minister Srettha Thavisin in Paris to discuss the matter.
“We discussed the rapid growth of electric vehicles in Thailand and how Formula E might be able to support his ambitious plans,” Dodd said.
Formula E’s local partner, Sports Tech Holdings, has declined comment.
Will this be another setback to Malaysia’s efforts to promote tourism, sport and entertainment?
In 2022, the country had American singer Taylor Swift in its grasp, but lost her to Singapore.
Swift did six concerts exclusively for Singapore between March 2-9 this year, much to the annoyance of its regional neighbours.
It seems all roads lead to Singapore as rock legends, Deep Purple, are scheduled to perform at a rockfest there in May.
Winning formula
Formula E, officially known as the ABB FIA Formula E World Championship, is an open-wheel single-seater motorsport competition for electric cars.
The racing series, with a fan base exceeding 380 million, is the highest class of contest for electrically powered single-seater racing cars.
The inaugural championship was held in Beijing in 2014. Other locations have included Sao Paolo, Monaco, Tokyo and Shanghai.
It is learnt that Formula E and Sports Tech Holdings are looking for a suitable circuit in Kuala Lumpur for the race slated for July next year.
A source with knowledge of the economic projections and benefits Malaysia could derive from the event said: “The prospects are bright and the investment by the government will be reasonable.”
The source said it has been forecast that the championship will inject about RM160 million into the local economy in the first year through visitor spending, with the creation of more than 10,000 jobs.
Over the next decade, it is projected to be capable of contributing at least RM7 billion to the economy.
Beyond direct financial gains, the event offers cities a platform to exhibit their commitment to sustainable urban development, promising to accelerate electric vehicle (EV) adoption and technology transfer. - FMT
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