We live in an age of churn. Technology is redrawing the boundaries of our lives at an unprecedented pace. The way we eat, the way we work, communicate, shop, commute, consume content has all undergone a sea change over the last decade or so. As the world¡¯s fastest evolving and most cutting-edge sport, motor-racing has naturally not been immune. In fact, the far-reaching transformational impact of the near-relentless stream of technological breakthroughs have held a mirror up to the sport. It has created new and exciting possibilities for what the sport could be in the future which has inevitably forced those of us who are part of the community to ponder where we as a whole are headed.
So just what will motorsport look like in the future? Will it still be relevant in a world being reshaped by so many forces? The answer is an unequivocal yes.
Nothing pushes the boundaries of technology like war and motorsport, so goes the old adage. Traditionally, racing tracks have been hotbeds of innovation for future road car technology. The nature of technology is such that there will always be an envelope to push and that¡¯s true whether you¡¯re building smartphones or cars. And now manufacturers need a rolling test bed for future technologies more than ever. Looking for sustainable energy sources is on the agenda of sporting teams and manufacturers, alike.?
Sustainability today is at the forefront of human consciousness, it is Good Business. For car manufacturers, their pursuit of sustainability is leading them to the path of new discoveries and breakthroughs, it is no longer just about fuel efficiency. Instead, car companies are dreaming up radically new, ingenious powertrain solutions that once would have seemed inconceivable.?
These include technologies ranging from the hybrid engine, a direct evolutionary descendent of the conventional combustion engine, to the electric powertrain, the hydrogen fuel cell, biodiesel engine and even sustainable P-series fuels. Renewable energy has opened up innovation opportunities like never before and it is a matter of time that one would see its use case in the area of motorsports.?
And what better laboratory to develop these technologies in than the competitive arena of motorsport?
For decades Formula One sat at the pinnacle of motorsports. But the emergence of alternate fuels and electrification in particular has flattened the pinnacle out, with space at the top now for various championships serving as rolling laboratories for various technologies.?
Formula One meanwhile is breaking new ground with its ultra-efficient turbo-hybrid engines which boast thermal efficiency of greater than 50 percent. That¡¯s an incredible number. The sport has also begun experimenting with sustainable fuels in its bid to become carbon neutral by 2030.
The World Endurance Championship too has introduced new rules to stay relevant with the times while the World Rally Championship is also looking at a hybrid concept for 2022. Even events like the gruelling Dakar are beginning to embrace alternative fuels and technology. HYRAZE League, a fully hydrogen-powered racing series is set to launch in 2023.
Albeit a niche community but students from Standford University have been looking to Solar Energy to find mobility solutions for the future, their quest begun more than three decades ago in 1989. The Stanford Solar Car Project is an entirely student-run, non-profit organization fuelled by its members¡¯ passion for environmentally sustainable technology. It comprises of teams of undergraduate students who design, build, and race a car that runs completely on solar energy.
The focus on a larger purpose for motorsports is reflected not just in the pursuit of cleaner technology on track but also in the way companies and stakeholders involved in the racing world are carrying themselves off it.
At Mahindra Racing, we¡¯ve hedged our bets on electrification. Which is why we have decided to pit ourselves against the world¡¯s top car companies in the world¡¯s only electric single-seater championship - Formula E. Formula E has driven breakthroughs in battery technology that manufacturers competing in the championship have applied to their road going EVs which today can deliver far more performance and far better range, making them a seriously viable alternative to conventional fossil-fuel powered cars. Extreme E has made noteworthy progress in the electric racing arena too.?
When we talk about business there are various acronyms like ROI, EBITDA, PAT that we use to measure financial performance. As a team that is committed to finding credible, advanced and next generation mobility solutions while being kind to the planet, at Mahindra Racing, we pledge to greater ROCE, which, for us, stands for Return On Climate and Environment. ?
Our rendition of ROCE (otherwise known as Return on Capital Employed) is ingrained into our ethos and a big part of the reason we are racing in Formula E. We take this just as seriously as our financial metrics and we have backed up the talk. For instance, we became the only Formula E team today, to be net carbon zero since inception. This, in addition to being certified three-star excellence in sustainability by FIA. Not content, we are pushing on and are now working towards meeting the far stricter ISO sustainability standards.?
So will motorsport have a future? Yes, it will. Will it be a very different future to how we see it today? Drastically so. Nevertheless, we are convinced that motorsport is serving more of a social function now than it ever did in its past and it is more relevant than ever. And the solution, fortunately, could come from multiple energy sources ¨C hence more opportunities to innovate, become sustainable and Rise!
The Author is CEO and Team Principal of Mahindra Racing Formula E team.