China-based renewable energy and technology company Envision is to become the majority team owner of DS Virgin Racing, one of the founding and most successful racing teams in Formula E.
Headquartered in Shanghai, Envision owns the world’s largest Energy IoT platform, EnOS, currently managing 100GW of energy assets globally. It is also the second-largest wind turbine manufacturer in China and the seventh-largest in the world.
This new venture forms the next chapter in our long-term vision for the Formula E team. Since the team’s inception, it has always focused on collaborating with like-minded ambitious brands, particularly those connected to the renewable energy sector, sustainability and electric vehicles. Envision and Virgin share the same vision for the future, using innovation to positively impact lives, and with their support I believe the team can continue to lead the way in Formula E.—Virgin Group founder Sir Richard Branson
The electrification of the transportation system means that the future of the energy and mobility sectors are intertwined. Electric vehicles, once integrated in the wider energy ecosystem, will be instrumental to enable the renewable energy transition. Envision and DS Virgin Racing share an ambition to accelerate the energy transition, where everyone has access to clean, secure and affordable energy, with this investment we will work with the DS Virgin Racing Team to create the future of clean e-mobility.—Lei Zhang, Founder and CEO of Envision