FE has partnered with technology company ABB, which specialises in electrical engineering, robotics and the manufacture of high-performance products and systems.

The deal, which means the electric racing series will be officially known as the ABB FIA Formula E Championship, was revealed at a special event at the Saatchi Gallery in London.

FE’s announcement called it “the first time an FIA-sanctioned single-seater championship has had a title sponsor”, while series CEO Alejandro Agag described it as a “historic day”.

“I’m honoured to welcome ABB as the title partner of the series, with its background and expertise in the field of electrification and digital technologies,” he said.

“Our two companies are synonymous with pushing the boundaries of what is possible.”

FE started in 2014 and has just kicked off its fourth season, with the second round of the 2017/18 championship taking place this weekend in Marrakesh.

ABB CEO Ulrich Spiesshofer said the two companies would be “writing the future” of electric mobility.

He added: “Today, two pioneers are uniting. ABB and Formula E are a natural fit at the forefront of the latest electrification and digital technologies.

“Together, we will write the next phase of this exciting sports activity and foster high-performance teams.”

FE has attracted manufacturer entries from the likes of Audi, Jaguar, Nissan, BMW, Mercedes and Porsche, despite being “still in its infancy”, according to FIA president Jean Todt.

The Frenchman said the title sponsorship deal was “a strong sign and proof of the attractiveness of this championship” and would aid “the development and expansion” of the series.