Mexico’s E-Prix, a 100 million business escaping from exclusivity

The Formula E E-Prix in Mexicowhich now 2023 will live in the eighth edition, is a business that generates 100 million dollars by escaping exclusivity and commitment to sustainability, which differentiates it from its main competitor, the Formula 1 Mexican Grand Prix.

The co-founder and leader of the championship, the Spanish Alberto Longorevealed to Efe that the recipe that led the Mexican date to increase from almost 82 million dollars generated in economic benefits in 2020 for Mexico City to 100 in 2022, is a business model that does not have as the main income of the ticket sales or something. fans eat at races.

“The business model is based on sponsorstransmission rights and the fees paid by the cities to host the championship (between 7 and 25 million dollars),” said the head of the queen’s competition for electric single-seaters.

The Mexican date, which in 2023 will inaugurate the ninth season on January 14, is one of the most traditional with Berlin, it is not only celebrated in the first Formula E campaign.

Even during the pandemic, in 2020-2021, Formula E chose to celebrate it Puebla because its usual headquarters, the Hermanos Rodríguez Autodrome, is occupied as a hospital to help with covid-19 cases.

Longo called Mexico the second home of Formula E and explained that although it is an E-Prix with unique characteristics, by leaving urban circuits and not receiving government funding, it is always a guarantee of sold-out tickets.

The philosophy of the organizers is to have accessible entrancethis year the cheapest one costs 12.50 dollars in the first stage, which in addition to giving entry to the race gives the right to a series of activities during the day such as an area for children, ‘play’, the possibility of entering the most exclusive such as the paddock and a concert.

“Next year, we have sold 10,000 of the 42,000 budgeted tickets. in less than the first 24 hours. We are a social event, open to people, we do not understand exclusivity. We should all be able to go to international events for what you pay to see movies. Building a business model based on what the fans do for you doesn’t seem right to me,” Longo added.

The work that began with the first edition of the Mexican E-Prix in March 2016 resulted in a fan base mostly between 17 and 29 years old, with a female presence.

“The profile is similar to that of the Formula 1 Mexican Grand Prix, whose difference is the younger age range and the strong presence of women. The Mexican is a mature audience, accustomed to motorsport events,” said the regional director of Formula E in Latin America, the Spaniard Álvaro Buenaventura.

Besides the cultural offer and ‘play’ present in the awards in Mexico, Buenaventura considers that another point that has allowed the electric circuit to establish itself among the young public is the message of sustainability.

“We present the electric vehicle as an aspiration. We also have a sustainability department, with a legacy that we want to leave in the cities where we compete, which is to inform the local society what are the practices of how to build a cleaner society with less carbon emissions.”

Buenaventura ensured that the challenges of Formula E in Mexico will establish itself as an important event in all the entertainment offered in the country, including music festivals and other sports such as NFL games, NBA, the Great Leagues and of course Formula 1 and convince the government to finance part of the event again like in other countries.

The Government stopped giving money to the Formula in its third edition, in 2018, now the country’s E-Prix is ​​100 percent financed by private money, which puts the long-term project at risk from year to year they must make of a rental contract of the Autodromo Hermanos Rodríguez.

“We believe that you must support us because this is an event that is positive for society, we send a message aligned with the government of zero emissions, electromobility. Countries and cities can use the E-Prix to position themselves in the world with messages of support for green projects like this,” said Buenaventura.