New Delhi: Half a dozen Union ministers have attended a meeting with Mahindra Group chairman Anand Mahindra to discuss the possibility of India hosting the Formula E Championship, the world’s premier competition of electrically-powered racing cars.

The meeting, held on Tuesday, could promote sales and create further awareness of electric and hybrid vehicles in the country amid mounting concern over vehicular pollution.

Formula E is the highest class of competition for electrically-powered racing cars and is sanctioned by the Fédération Internationale de l’Automobile (FIA) that organises the more popular Formula 1 races across the world.

“FIA is very keen to make it happen. We have talked to a few people who have to decide whether it makes sense for Formula E race to come here or not," Pawan Goenka, executive director, Mahindra & Mahindra said in an interview.

To be sure, India has hosted three Formula 1 races between 2011 and 2013, which were held at the Buddh International Circuit in Greater Noida. Though Jaypee Group, the promoters of the Buddh circuit, have a contract to host two more races, there is some uncertainty due to the deteriorating financial condition of the circuit owners. Mint on 15 July reported that the Jaypee Group has more than ₹ 60,000 crore debt on its books.

The meeting on Formula E was attended by six senior ministers—Suresh Prabhu (railways), Ravi Shankar Prasad (communication and IT), Ashok Gajapathi Raju (civil aviation), Nitin Gadkari (road, transport and highways), Prakash Javadekar (minister of state for environment) and Rajiv Pratap Rudy (minister of state for skill development). It will also promote people’s awareness and understanding about electric vehicles, Goenka added.

The government wants six million electric vehicles on Indian roads by 2020 in a bid to reduce vehicular pollution and combat global warming. It expects electric vehicles to help India save 2.2 million tonnes (mt) to 2.5 mt of liquid fuel, valued around ₹ 14,000-15,000 crore, and reduce carbon dioxide emissions by up to 1.5%.

India is the third most polluting country in the world after the US and China, who have signed a major bilateral climate deal, wherein the US will reduce its carbon emissions by 26-28% below its 2005 level by 2025 and China will reach the peak of its harmful carbon dioxide emissions around 2030.

The Formula E races began in Beijing in September 2014, ending in London in June 2015, with the series competing in 10 of the world’s leading cities. The championship sees nine teams, each with two drivers, racing on temporary city-centre circuits to create a unique and exciting race series designed to appeal to a new generation of motorsport fans. Among the mainstream automobile companies, only Audi AG, Mahindra, and Renault participate in the race. And in December, iconic car brand Jaguar said it will return to motorsport in 2016 after 12 years away, with a team for Formula E.

“This is the kind of a race that happens on the streets and not in circuits. Therefore, one day, in the heart of a town, main roads will have to be blocked. That may create some inconvenience to the public but the at same time it showcases the country to global audiences," Goenka said.

To any automobile company, Goenka said, racing brings visibility in terms of viewership and it develops a culture of developing new technologies, which could later be used in mainstream vehicles.

He said Mahindra Racing may also consider participating in the Dakar Rally held in South America to enhance the off-roading capabilities of its traditional sports utility vehicles such as Scorpio and SUV 5OO.

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Share Via