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Motor racing-Electric series raises 50 million euros from investors

LONDON, May 14 (Reuters) – The Formula E electric car racing series has raised 50 million euros ($68.5 million) from new investors including Californian technology company Qualcomm to help fund its launch this year, organisers said on Wednesday.

Qualcomm and Amura Capital, a private equity fund based in Andorra, are the main new investors ahead of the first race which is scheduled to take place around Beijing’s Olympic stadium in September.

Featuring teams backed by Hollywood actor Leonardo DiCaprio and British entrepreneur Richard Branson, Formula E is designed to help boost the image and sales of electric cars. .
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