The Formula E championship is currently contested by eleven teams with two drivers each. The Spark SRT05e demo car at the 2020 Autosport International Since the 2020–21 season, Formula E is an FIA World Championship, making it the first single-seater racing series outside of Formula One to be given world championship status. Agag told Todt that he would take on the task because of his prior experience in negotiating contracts with television stations, sponsorship and marketing.

Agag supported Todt's proposal after the latter discussed the FIA opening up a tender to organise the series. Tajani was concentrated on the electrification of the automobile industry, reducing carbon-dioxide emissions and introducing hybrid and electric systems. The proposal for a city-based, single-seater electric car motor racing championship was conceived by Jean Todt, the president of the world governing body of motorsport, the Fédération Internationale de l'Automobile (FIA), and presented to politicians Alejandro Agag and Antonio Tajani at a dinner at a small Italian restaurant in the French capital Paris on 3 March 2011. Since 2020, the series has FIA world championship status.

The inaugural championship race was held in Beijing in September 2014. The series was conceived in 2011 in Paris by then FIA president Jean Todt and Spanish businessman Alejandro Agag, who is also the current chairman of Formula E Holdings. Formula E, officially the ABB FIA Formula E World Championship, is a single-seater motorsport championship for electric cars.

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