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'Formula E' (now the 'FIA Formula E World Championship') is a single-seater motorsport championship for electric cars. The series was conceived in 2011 in Paris by FIA president Jean Todt and Spanish businessman Alejandro Agag. They had a proposal for a city-based, single-seater electric car motor racing championship. This was borne out of the necessity with emphasis on the electrification of the automobile industry, reducing carbon-dioxide emissions and introducing electric powertrains (engines). The first 'Formula E' race took place at the Beijing Olympic Green Circuit on 13 September 2014.