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 |  Dec 21 2010, 9:01 PM

At the recent U.N. Climate Change Conference, the announcement to launch an all-electric racing series was made. The new series will be called Formulec EF01.

This new series will be performed on tracks around the world and in terms of performance will rival the current FIA Formula-3 series, which uses 2.0-liter gas engines.

The new race car, which is developed by the French company Segula Matra Technologies, features a pair of electric motors, mated to a custom 2-speed transmission developed by Hewland.

All the racing rules and regulations have not been announced yet, for instance, how long the races will be and if teams will be allowed to change the lithium-ion battery packs during the race. The SAFT developed battery pack can currently run for about 20-25 minutes and can take up to 90 minutes to charge.

The frame and bodywork for the new race car was developed by Mercedes-Benz Petronas F1 team at their facility in Brackley, U.K.

Michelin will develop new energy saving tires for the series. The prototype was tested at the Magny-Cours and Le Mans Bugatti circuit, where it set some impressive performance numbers. 0-60 mph took just 3 seconds, and it hit a top speed of 155 mph.

The plan is for the series to run 10 races on five continents. We wish this series all the best.