Item - 2019.EC8.19

The Economic and Community Development Committee:

1.  Requested the General Manager, Economic Development and Culture to investigate the potential to become a Formula E host city and long-term strategic partner to promote our region's automobile industry, stimulate the latest in 21st century e-vehicle design and research, and to report back to the Economic and Community Development Committee in the first quarter of 2020 on the feasibility of Toronto becoming a Formula E host city at no cost to taxpayers.

I am writing to request that we explore the potential to bring Formula E to the City of Toronto.

Formula E was conceived in 2011 by FIA (International Automobile Federation) President and former Scuderia Ferrari General Manager Jean Todt and Spanish businessman Alejandro Agag as the world's first all-electric international car racing platform. The first race was held in Beijing's Olympic Park in 2014, and has grown into a global entertainment brand with 11 teams and 22 drivers. There are multiple major international corporate sponsors and 9 global automobile manufacturers are engaged; including Jaguar, Nissan, BMW, Audi, DS (Peugeot), and Mahindra. Formula E describes its venue metropolises as being the 'most progressive' cities in the world, and they include New York, London, Paris, Berlin, Seoul, Jakarta, Rome, and Mexico City, among others. Formula E markets itself as a cutting edge catalyst to propel the latest electric vehicle design and research work, as well as improving driving experiences for everyday car users of all classes and types, all while providing incredible entertainment.

As the capital city of North America's top auto-producing region with over 2.2 million vehicles assembled in 2017, Toronto has long benefited from the economic activity, employment, and tax revenue generated by the automobile sector. Over 200 companies in southern Ontario are developing autonomous vehicle technology, with our automobile sector employing over 100,000, and generating almost 20 percent of manufacturing GDP. Becoming a Formula E host city would enhance Toronto's international automobile and e-vehicle profile while helping the sector better compete and promote its products, innovations, and skills.