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F1

Formula One to launch new racing series 'F1 Academy' for female drivers

Formula One is launching a new racing series for female drivers that will start next year. The series, to be known as the F1 Academy, will be subsidized by F1 and is likely to be a support series for one weekend of the F1 season. F1 said it would contribute funding of 150,000 euros ($156,000) per car and will require the drivers to cover the same amount, which represents a fraction of the usual costs in a comparable series. There will be 15 cars on the grid for a 21-race season split across seven rounds. The series will aim to recruit young talent currently in go-karting or other junior categories in the hope they can later graduate to Formula Three as a next step, and eventually compete in F1. The announcement comes less than two months after another all-female event, the W Series, cut its season short due to financial problems. The W Series has been free to enter for drivers, unlike most developmental series which require young drivers to bring their own financial backing from .

Updated On : 18 Nov 2022 | 6:49 PM IST

TVS to acquire 48% stake in two-wheeler startup DriveX for Rs 85 cr

TVS Motor Company on Wednesday said it will acquire 48 per cent stake in Narain Karthikeyan's pre-owned two-wheeler startup 'DriveX' for a consideration of Rs 85 crore. The company said it will acquire 48.27 per cent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand DriveX', through primary and secondary investments. Founded by Formula 1 driver Karthikeyan, DriveX is into leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters. "DriveX has a vision to bring a change in this segment by building trust, assurance, and transparency through end-to-end, high-quality products and customer experience through innovative solutions. We are confident of DriveX ability to deliver on this vision," TVS Motor Company Managing Director Sudarshan Venu said in a statement. DriveX Founder and CEO Karthikeyan said DriveX is a digital first business, serving all brands with ...