PARIS, France – Formula E and the FIA reached an agreement on Monday for the electric openwheel series to officially become an FIA World Championship after a meeting at FIA’s headquarters in France.  “We have multiple manufacturers and we race across five continents so now is the perfect time for our championship to begin folding in on itself,” said Formula E chairman Alejandro Agag, “We want to open the floodgates for manufacturer spending, then when it becomes too much, all but one pull out and we have to take drastic measures to attempt to bring some of them back.  We’re excited for the next stage and get a feel of what it’s really like to become an FIA World Championship series.”

Agag also confirmed the series is excited to take the next step of not being sustainable and look forward to brainstorming with the WEC and WRC on what to do to cause, then scramble to fix, a series collapse.