The electric powered racing series Formula E has revealed that pre-tax losses have grown by 26.7 percent to 26.4 million Euro last year, giving it combined losses of 166.2 million Euro since it held its first race in 2014.
Formula E Operations is based in London and its biggest shareholder is the Virgin Media owned Liberty Global which has a 23.9 percent stake. Costs have increased by 44.9 million Euro as Formula E added new staff and developed new cars which can last an entire race without needing to be charged or changed.
Live crowd attendances are up though with more than 476,000 spectators over the year watching races last year compared with 220,000 spectators in 2017.
Formula E comes to Monaco this Saturday the 11th of May for the Monaco E-Prix.
- Source: Formula E Operations
- Photocredit: Formula E
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