Euronews Business explores how the E1 electric boat racing championship is making the sport more sustainable. The world's first electric boat racing championship, the UIM E1 World Championship, recently concluded its fifth race at Lake Como, in Italy. Actor Will Smith was there to see his team - Westbrook Racing - secure its first win on the final day of the event.
Previous race locations for the maiden season of the championship have included Jeddah, Venice, Puerto Banús and Monaco. Apart from Smith, the championship has a star-studded roster of team owners including the NFL's Tom Brady, the Indian cricket legend Virat Kohli, artist Marc Anthony, footballer Didier Drogba and the tennis champion Rafael Nadal. DJ Steve Aoki and Grand Prix racer Sergio Perez also own a team, along with the chief executive of Claure Group, Marcelo Claure.
Although celebrity team owners have been seen in several sports leagues and championships in the last few years, the E1 championship could potentially be driving the rise of a new investment class: the sustainable luxury sports category. The idea for the E1 championship was born during COVID-19. The chief executive officer (CEO) and co-founder of E1, Rodi Basso, teamed up with Alejandro Agag, E1's chairman and co-founder.
While Basso came up with the idea of a ‘Formula E on water’ style championship, Agag offered the investment required for boats with electric propulsion and foils. According to Basso, the E1 championship focuses on ‘inn.
