A fresh round of discussions is on between the organisers of Formula E-Prix and the top brass of the Municipal Administration and Urban Development of Government of Telangana for the race scheduled on February 10.
This is in continuation of the Host City Agreement signed on October 30 this year and the staging of the Hyderabad E-Prix. “This is consequent to the recent official communication received from the new government of Telangana (headed by Chief Minister A. Revanth Reddy) seeking urgent clarification of their contractual commitments under the agreement and how it could impact the Hyderabad Race,” an official release on Thursday informed.
“Based on the content of the letter received, Formula E is concerned the race will not be able to go ahead as planned,” it is mentioned.
Formula E’s senior executive team met the new leadership of Telangana immediately following elections earlier this month. Discussions have been ongoing since then, the release said.
“With the event just a few weeks away and in its final stages of preparation, Formula E, partners and suppliers have already made significant commercial investments in the event. The inaugural Hyderabad E-Prix in February this year returned almost $84 million in positive economic impact to the region, many times more than the overhead costs invested by Formula E and the Government of Telangana,“ the note explained.