A renewable energy and technology firm has become the majority owner of one of the founding racing teams in Formula E.
Following its purchase of a share of DS Virgin Racing, Envision said it will bring additional technological skills and capabilities to the team.
Envision owns an energy Internet of Things (IoT) platform and currently manages 100GW of energy assets globally. It is also set to be the second largest wind turbine manufacturer in China and the seventh largest in the world.
Virgin Group Founder Sir Richard Branson said: “This new venture forms the next chapter in our long-term vision for the Formula E team. Since the team’s inception, it has always focused on collaborating with like-minded ambitious brands, particularly those connected to the renewable energy sector, sustainability and electric vehicles.
“Envision and Virgin share the same vision for the future, using innovation to positively impact lives and with their support I believe the team can continue to lead the way in Formula E.”