15 May 2014

Investors keen to support electric motor racing series

12:01 pm on 15 May 2014

The Formula E electric car racing series has raised $80 million from new investors, including a Californian technology company, to help fund its launch this year.

Qualcomm and Amura Capital, a private equity fund based in Andorra, are the main new investors ahead of the first race which is scheduled to take place around Beijing's Olympic stadium in September.

Featuring teams backed by Hollywood actor Leonardo DiCaprio and British entrepreneur Richard Branson, Formula E is designed to help boost the image and sales of electric cars.