Malaysia drops its plan to host Formula E race

Malaysia drops its plan to host Formula E race

Malaysia has dropped plans to host the final race in the Formula E world championship after local partner Sports Tech Holdings and Formula E failed to agree on the financial aspects to hold the race. The country was scheduled to begin the electric single-seater racing championship’s season-ending race annually from next year until 2030 after Sports Tech secured the rights for the event earlier this year.

According to Sports Tech, negotiations failed due to a huge rise in the rights fee and an unexpected escalation in commercial charges following its decision to move the venue from a city circuit in Kuala Lumpur to the Sepang International Circuit (SIC). While Formula E was keen on holding the event to its expectations in KL, Sports Tech chose SIC due to technical challenges on the street circuit in the city, FMT reports.

Sports Tech CEO Wan Agyl Wan Hassan said that the costs of holding the race were too high, while the potential returns were limited. “Our decision to step back from this opportunity stems from differences in expectations regarding the event’s scope and financial framework. The economic conditions and the scale of investment required did not align seamlessly with our strategic priorities or financial planning,” he said.

Malaysia drops its plan to host Formula E race

“The new race fees are beyond our financial capacity, and we did not want to financially burden the government. If there is no economic value, why should we continue?” he added. Wan Agyl did not disclose the amount sought by Formula E as that could not be shared under a non-disclosure agreement between both parties.

It was projected that the Malaysian round of the championship could inject some RM157.5 million into the local economy through visitor spending and create over 10,000 jobs. It was also forecast that the event could contribute RM6.73 billion to the country’s economy over the next decade.

The country has previously hosted Formula E races – in 2014 and 2015, it ran the Putrajaya ePrix at a specially designed street circuit in the administrative capital.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.



  • seitha on May 20, 2024 at 7:06 pm

    Most awake Malaysians are not interested in evs and formula e.
    We prefer ICE and Formula one.
    Nothing beats the sound of the exhaust of the ICE engines, unlike the irritating high pitched screeching sound of electric motors

    Like or Dislike: Thumb up 16 Thumb down 9
    • Mat rempit on May 20, 2024 at 9:50 pm

      That’s what I’ve been telling you all. I modified my kapchai exhaust pipe for a reason. It’s free music to your ears yet you komplen to pulis. Tak kenang budi korang ni

      Like or Dislike: Thumb up 5 Thumb down 6
  • Casual rider on May 20, 2024 at 7:08 pm

    Wise decision

    Like or Dislike: Thumb up 11 Thumb down 0
  • City circuit? Hahhahah bro, carbon fiber bits and pieces will be all over the road after the race can use that add resin tampal potholes

    Like or Dislike: Thumb up 4 Thumb down 1
  • Raja Kamarul on May 20, 2024 at 8:38 pm

    Good call. Very very limited benefits, actually. These projections are designed to make it look appealing. On the ground, local government and NGOs can make the organisation of such events a pain.

    I’d say a cub prix ie a kapchai race in the city would probably gain more viewers.

    Like or Dislike: Thumb up 10 Thumb down 1
  • Z900 2016 on May 21, 2024 at 8:52 am

    what formula? the sound of ev cars are so boring, imagine Tesla & BYD race each other, no mood to go hahaha

    Like or Dislike: Thumb up 0 Thumb down 1
  • Just forget about hosting any event. Buat party sikit sudah kecoh. Last time F1 event, we have party whole night leading to the race. All the clubs were decorated with F1 theme.
    Now just stick to your ceramah event.

    Like or Dislike: Thumb up 1 Thumb down 0
  • M for Mat rempit on May 21, 2024 at 11:53 am

    Hell even F1 & Asia Le Mans series didn’t get much support from the local. Most local prefer bike related sport like Motogp, WSBK, ARRC, MSBK & Cubprix

    Like or Dislike: Thumb up 0 Thumb down 0
  • Matti on May 21, 2024 at 4:35 pm

    Formula E doesn’t like closed circuits due to the embarrassing lap times these sewing machines do compared to competing motorsports. That’s the main reason these “unexpected’ commercial charges. They price themselves out until organizers bail, then they can say it’s the organizer’s fault.

    Like or Dislike: Thumb up 4 Thumb down 0

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