The Fédération Internationale de l’Automobile (FIA) have reached an agreement with Formula E Holdings LTD (FEH), a consortium of international investors, to license the commercial rights of the FIA Formula E Championship. A website have also been launched, although there are no pictures of how a Formula E car looks like.

This new championship will solely feature electric-powered Formula cars, reflecting the future of the motor industry. Demonstration of the Formula E cars will start in 2013 and the point-scoring races will flag off in 2014. The race series aims to takeoff with 10 teams and 20 drivers competing in the championship. Formula E will stage its races in the heart of renowned cities around the world.

We all know that nearly every racing series double up as test beds for new automotive technologies that will eventually filter into passenger cars. So this race series may well be the spark that jump starts better tech for electric vehicles.

This is not the first race series that fields electric cars. We recently saw electric cars racing up Pikes Peak, which you can read all about here.