Sunday, 6 September 2020
A new festival of E‑Motion in Adelaide, incorporating a Formula‑E race, would speed up the state’s economic recovery from COVID-19 and inject tens of millions of dollars into the local economy says South Australian Business Chamber.
The peak independent and local business body has thrown its support behind the concept saying the State Government needs to act quickly to secure the event.
The South Australian Business Chamber CEO, Martin Haese, says a Formula‑E race was a natural fit for South Australia.
“Forget the Formula 1, Formula‑E is the future,” said Mr Haese.
“It’s motorsport, technology, renewable energy and an exciting street party all rolled into one and South Australia is the only State in the country that ticks all the boxes.
“A week-long Festival of E‑Motion, with a Formula‑E race the centrepiece, would leverage our proud automotive manufacturing history and growing gaming sector while positioning South Australia as a world-leader in renewable energy and sustainability.
The South Australian Business Chamber says economic impact studies from previous host cities suggest a Formula‑E race could inject $35 to $45 million into the local economy.
“The Festival would provide significant benefits for local accommodation, tourism, and event hire businesses, which we know are some of the hardest hit by COVID-19,” said Mr Haese.
“Formula‑E is on a rapid growth trajectory. Its global television audience has surged to more than 411 million, while the online audience is now more than 850 million thanks to the interactive nature of the event that allows online viewers to race the drivers in real time.
“This exposure would put Adelaide on the global map as a modern, progressive and innovative destination to do business with.”
The South Australian Business Chamber says Adelaide could bid for a Formula‑E race on 5 June 2021 with Round 9 yet to be confirmed on the Formula‑E 2020 – 21 race calendar. It is calling for the Government’s feasibility study into the event to be made public, and an economic impact study into the event.
“The South Australian Business Chamber understands there is significant interest in the private sector to stage a Formula‑E event in Adelaide and the release of the Government’s feasibility study and an Economic Impact Study would kick things up a gear,” said Mr Haese.
“With no race yet in Australasia, we should be acting quickly to secure this golden opportunity ahead of Perth, the Gold Coast or Auckland.”
Adelaide advanced automation manufactures, SAGE Automation, supports the South Australian Business Chamber proposal.
“A Formula‑E race would present exciting opportunities for businesses like ours in technology and renewable energy through the significant international exposure and increased awareness of South Australia as a leader in this sector. It could open a lot of doors for our business,” said Andrew Downs, SAGE Automation Managing Director.
The Formula‑E championship features 12 teams racing electric-powered cars on street circuits featuring the latest in technology from the likes of BMW, Jaguar, Porsche and Mercedes-Benz.
