The Jakarta Council has approved Rp 360 billion (US$25.3 million) in funding for the city to host the Formula E race for electric cars in 2020. The city administration had proposed a budget of Rp 345.9 billion. In response to the approval, Jakarta Governor Anies Baswedan said he would proceed with conducting comparative and feasibility studies to prepare for the event. “From our preliminary study, hosting the Formula E will boost our economy by up to Rp 1.2 trillion. That will be for Jakarta alone,” Anies said on Wednesday, noting that pre-events, the main event and side events would also put Indonesia as a country in the spotlight. Concurring with Anies, Jakarta Council Speaker Prasestyo Edi Marsudi said he was looking forward to the event. “Maybe the Formula E could be a new source of income for the city, especially if we could make it regular, just like S...