As climate change becomes more apparent and the world becomes increasingly aware of sustainability, the motorsport industry is taking significant steps towards becoming greener. Whilst racing has traditionally been associated with high emissions and fuel consumption, the sport is keen to lead the change in developing more sustainable practices and technology.
The Shift to Hybrid Power
One of the most notable changes in recent years is the introduction of hybrid power units in Formula 1 cars. For the 11th year running, the 2024 F1 cars are powered by V6 hybrid turbo power units with 1.6-litre engines. These engines combine traditional internal combustion with electric motors, resulting in improved fuel efficiency and reduced emissions. They are also making it mandatory to use 100% sustainable fuel by 2026. Formula 1’s commitment to developing more sustainable technology, reflects a broader trend within the motorsport industry to prioritize sustainability.
The Rise of Electric Racing
There has been a surge in the popularity of Formula E, demonstrating a new era in motorsport and an opportunity to discover the future of technology to increase sustainability. Formula E features fully electric vehicles but also incorporates the innovative practices such as regenerative braking and energy-efficient racing formats. This series aims to demonstrate a concrete solution to fight climate change by encouraging the global adoption of EVs and inspiring people to live more sustainable lifestyles.
Sustainable Event Practices
Established racing series are pushing towards more sustainability at their racing events, launching a variation of eco-friendly initiatives. Many circuits are investing in sustainable technology such as solar panels and wind turbines to generate energy and power their facilities. Others are focusing on encouraging sustainable waste management at events and eco-friendly track construction and maintenance to minimize the environmental impact.
The path to sustainable motorsport can present its challenges, from high costs to the need to develop infrastructure such as chargers, however it also presents its opportunities. Embracing sustainable practices attracts sponsors and fans who are more environmentally conscious and could be the catalyst for a more sustainable future for all transport.
Motorsport Finance
Motorsport can get expensive, even more so when you are looking to upgrade and change facilities to support the green initiative. Whether you need asset finance for a new purchase, or a flexible business loan to make several investments across your motorsport business- we can help you to get the funds you need to ease the strain on your cash flow.
With a variety of lending options available and over 70+ lenders on our books, we are committed to finding the best deal for you to spread the cost of any purchases into an affordable payment plan and even across multiple seasons.
We have also worked in the Motorsport industry for almost a decade, building strong relationships as we go. We work closely with the Motorsport enthusiasts we know and have a genuine interest ourselves in the industry. For example, we were recently invited to a Bowler Motors Test Day which we gladly accepted and attended! It was a fantastic opportunity to meet and engage with the team and gain valuable insights into the vehicles and industry as a whole. We were even fortunate enough to experience the track firsthand, with some members of the team taking cars for a spin! We felt honoured to be included in the day and are so grateful to Bowler for hosting a wonderful event.