Electric Racing Pioneer Alejandro Agag Invests in Motorsport Network's EV Venture

The founder of the Formula E electric racing series becomes equity partner and chairman of the newly consolidated EV media powerhouse

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Motorsport Network

Feb 14, 2019, 06:57 ET

LONDON, Feb. 14, 2019 /PRNewswire/ -- Alejandro Agag, the pioneer who has driven the growth of FIA Formula E, the world's premier electric city racing series, has dynamically evolved his position in the electric vehicle world by taking on the chairmanship and an equity stake in the EV Network alongside its founders, Motorsport Network.

Alejandro Agag discusses his investment and chairmanship of EV Network

EV Network represents the consolidation of two sector-leading platforms, InsideEVs and MYEV.com. InsideEVs.com is a market-leading and independent electric vehicle content website that is rapidly growing in North America, with a major global territorial expansion planned for 2019. MYEV.com is the first marketplace for trading electric vehicles, with inventory from over 370 dealers.

The business will scale territorially and functionally by following a similar multi-lingual, single CMS (content management system) model successfully pursued by Motorsport Network, whose automotive and motorsport platforms span the globe in 17 languages and attract 31m unique users every month.

Alejandro will also take up the position of Chairman of EV Network, using his insight and experience in the electric vehicle sector to galvanise the organisation's leadership team.

"Consumer and industry demand for authoritative editorial platforms and marketplaces to transact in this sector has never been higher, so the creation of EV Network makes sound sense. But what really excites me is the investment and growth plans to take this business global to create a powerhouse in the EV sector, and Motorsport Network has the tenacity, skill and track record to make this happen. That's why I've invested and agreed to take on the position of Chairman of EV Network to help realise this plan," said Alejandro.

James Allen, President of Motorsport Network said, "Alejandro is a true pioneer and a blue ocean thinker. His work and influence in the electric racing space speaks for itself. We're delighted to have secured his investment and leadership for this new venture. We believe that the combination of Alejandro's stewardship and Motorsport Network's proven status as a global destination for all things cars and motorsport adds up to a very exciting proposition. And it will help us to better serve our customers and fuel their passion."

About Motorsport Network

Motorsport Network is the destination for millions of cars and racing fans. We fuel their passion with tomorrow's stories today and offer access and experiences no one else can. We sit at the heart of the world's automotive and racing industries at a time of exciting transformation and enormous potential and through our integrated digital ecosystem, we're unlocking more opportunities and experiences for our fans. Together, we're shaping a community that offers incredible personalized experiences and is opening up the world of cars and racing to the next generation of fans.

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SOURCE Motorsport Network