The Westfield iRACER will be one of the vehicles in the the first racing series for electric cars.
The Westfield iRACER will be one of the vehicles in the the first racing series for electric cars.

Electric formula



Think of a motor racing series and inevitability you cannot help but conjure up the roar of engines doing battle on track and the waft of petrol fumes emanating into the stands. In short, motorsport is far from clean, green living - that is, until now. A variety of series have tried to offer more environmentally friendly alternatives, ranging from biofuel to Formula One's seeming love-hate relationship with KERS (the kinetic energy recovery system).

But the world's first eco racing series is on the precipice of being realised. Set up in England, the six-race series will get under way next year, with races in the UK, France and Germany, with plans already in place to potentially race in the Middle East and specifically the UAE in subsequent seasons. The EV Cup is the globe's first racing series solely for electric cars, and its founders fully expect sceptics in the motoring industry to raise more than a few eyebrows at a potentially silent racing series.

Andrew Lee, who co-founded the series with Sylvain Filippi, admits to answering more questions about the potential for a seriously quiet racing series than anything else when talking about the EV Cup, but he is adamant he will dispel many of the myths about electric car racing. "People have the mindset that electric cars are slow and silent," says Lee, who readily admits to having a similar outlook himself in the past.

A self-confessed petrolhead, he was converted after test driving an electric car for the first time. He recalls: "It was a Th!nk City car and I definitely went into the test drive with pre-conceived ideas of what it would be like. That perception radically changed as I became aware of what an electric-powered car is capable of." As for the notion of quiet racing on track, Lee admits the decibel level will be easier on the ears, but points out that a full grid of whirring electric cars will still cause a din.

"The best way to describe the sound of an electric car at full speed - which I read in a car test review - is like a jet engine," says Lee. "Of course, the noise is very different to a normal engine, but I can assure spectators that there will be noise. Just not as much noise." Lee's love affair with electric cars has come a long way since first taking to the wheel of the Th!nk. However, it was not until midway through last year that Lee, who had previously worked as a consultant to major manufacturers in the electric car industry, thought of a racing series as the way forward.

He explains, "It was last summer when we first started discussing it although we didn't set up the company around the EV Cup until the end of last year. "But it seemed to make sense as we already had relationships with various vehicle manufacturers, and we already had a good idea of the business model and how everything and everyone would work together. And from there it's been a bit of a rollercoaster."

The plan is to run three different classes at a race weekend: a prototype class for Le Mans-style racers, a sports EV class for single-seaters and the slowest of the classes, the City EV Class with the aforementioned Th!nk City car. Already, the Swiss-built Green GT has been signed up to the prototype series, while the Sports EV class will run the Ginetta G50 EV as well as the Lightning GT and the Westfield iRacer.

A variety of different teams and drivers have already signed up for the series, including a host of celebrities, but the EV Cup bosses are not yet making that public. All Lee would say was that "there are a number of race teams". He added: "Some of them are race teams that you would know today and others have been born for this series. There are celebrity drivers that are keen and also drivers that are looking to electric car racing to further their careers."

Lee expects the racing to be more akin to touring cars than F1, although comparisons have already been drawn between the EV Cup and F1, much to Lee's surprise. However, he points out, "We have never compared ourselves to F1, but what's interesting is that other people tend to do that. We're not trying to mimic what F1 is doing. "Where people have pointed out a comparison is that both us and F1 are trying to push automotive technology to the limit and trying to get that into road cars as quickly as possible. It's just that we can get those technologies into road cars quicker than F1 can."

The EV Cup has tried not to pigeonhole itself as solely open to one particular kind of racing team, racer, or fan for that matter. Interest has ranged from individuals who bought the first electric cars available on the market to those new to the electric car community and also green-minded companies looking to get onboard the project to further their own means. "There's quite a differing interest level," insists Lee. "Even the motorsport industry - usually a tough nut to crack - at large is interested. We launched ourselves at the Autosport International Show in January and the interest was immense, even ranging to budding university students interested in studying greener projects in their degrees."

Before the series can get off the ground, there are still a host of loopholes to go through, and the green light needs to be given by the Motorsports Association in the UK and, after that, global motoring governing body the FIA. Lee and Filippi have got Grahame Butterworth on board for that task. Butterworth has 40 years of experience in the motorsport industry, most notably as a competition organiser. He has run the UK's leading kart racing class for the last 15 years and also set up an endurance car racing class eight years ago.

The crux of Butterworth's task is to persuade both the British Motor Sports Association (MSA) and the FIA that electric car racing is safe. With the voltages in question, there are very real concerns for drivers, team members and race marshals, all of which Lee is confident of overcoming. "Grahame is very well connected and knowledgeable in setting up a race series," adds Lee. "But the safety concerns are nothing new. These are things that people are well aware with when it comes to electric cars. We need to ensure that there are no concerns about the potential for electric shocks.

"We're confident we'll be able to deal with those concerns and then the series can get up an running." Lee claims tracks are queuing up to put themselves forward as hosts for a round of the series. None have yet been named, although the UK venue Rockingham is rumoured to be the one definite. What appeals to circuit bosses is the combined selling point of reduced noise and reduced C02 emissions that goes hand in hand with the EV Cup.

"Tracks are limited by both noise levels and C02 emissions, which makes us appealing as we can race at other times away from their normal meetings," he says. "I'd have to say that has been a happy coincidence of the EV Cup as we'd never initially envisaged that. "What it will mean is that we can run at weekends when traditional racing wasn't originally permitted." If FIA backing is given - as Lee fully expects - then the approaches from tracks, such as those in the Middle East, can turn into more viable options for future seasons.

And Lee would welcome a Middle East leg in the future. "We've already had approaches from the United Arab Emirates, and it's an area we're looking into," he says. "The key is our sponsors and, if they are keen to see this type of race in the Middle East, then from our point of view, we're more than happy to go out there to race." Wherever the racing ends up, such is Lee's confidence that he believes his brainchild will overhaul both motorsport and the motoring industry.

"We do think this will change the face of motor racing as we know it," he says. "But also we finally have a chance to really showcase the performance of electric cars. There's been no way to do that until now. We just want to put them on track and show how fast they really are." motoring@thenational.ae

The Farewell

Director: Lulu Wang

Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma

Four stars

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The years Ramadan fell in May

1987

1954

1921

1888

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
The%20new%20Turing%20Test
%3Cp%3EThe%20Coffee%20Test%3C%2Fp%3E%0A%3Cp%3E%3Cem%3EA%20machine%20is%20required%20to%20enter%20an%20average%20American%20home%20and%20figure%20out%20how%20to%20make%20coffee%3A%20find%20the%20coffee%20machine%2C%20find%20the%20coffee%2C%20add%20water%2C%20find%20a%20mug%20and%20brew%20the%20coffee%20by%20pushing%20the%20proper%20buttons.%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3EProposed%20by%20Steve%20Wozniak%2C%20Apple%20co-founder%3C%2Fp%3E%0A
How it works

1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground

2) Instead of water draining straight through the sand, it apparently helps the soil retain water

3) One application is said to last five years

4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare 

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5