Saudi Arabia, Riyadh – For the second year running, the National Energy Efficiency Company (TARSHID) will be an official partner and sponsor of the 2023 CORE Diriyah E-Prix. Held in collaboration with local promoter CBX and the Saudi Ministry of Sport, the double-header race event will be held on the 27th and 28th of January, the company announced.

TARSHID and Formula E, the world’s first all-electric motorsport world championship shares a similar, holistic goal: to help create a more sustainable future. The ABB FIA Formula E World Championship exists to accelerate sustainable human progress through the power of electric racing. It operates as a testbed to push the development of new technologies needed for an electric, low-carbon future.

Rounds 2 and 3 will take place in Saudi Arabia following the first round of Season 9 in Mexico City on Saturday, 14th of January. Diriyah will host the only nighttime races of the 16-race season. The district near Riyadh made world motor racing history in 2018 when the first-ever Diriyah E-Prix – and Saudi Arabia’s first international motorsport event ever – was held in the city thanks to Diriyah E-Prix promoter CBX and the Saudi Ministry of Sport. With the championship taking place in the Kingdom, Formula E is regarded as a platform for change and a contributor to the objectives of Vision 2030.

The 2023 CORE Diriyah E-Prix will be the first time that fans in Saudi Arabia see the new GEN3 race car in competitive action. The GEN3 is the fastest, lightest, most powerful, and efficient electric race car ever built. Capable of a 200mph (322kph) top speed, it is 53kg lighter than the GEN2 with a smaller chassis optimised for street racing. An additional front powertrain adds 250kW to the 350kW at the rear, more than doubling the regenerative capacity of the previous GEN2 car to 600kW, with more than 40% of the energy used in-race regenerated under braking.

“Renewing this partnership underlines TARSHID ’s initiative in the field of energy efficiency and underscores our mission to help the Kingdom reach and exceed its sustainability targets,” said Waled Alghreri, the Chief Executive Officer of TARSHID. “Our support of the event is a purposeful step that underlines our commitment to helping promote energy conservation and facilitate an efficient local energy industry.”

 “I’m delighted to welcome TARSHID back to the 2023 CORE Diriyah E-Prix as an official partner for the second consecutive year as we continue to be the only night race on the ABB FIA Formula E World Championship calendar” said Carlo Boutagy, CBX Founder and CEO. “Within the Kingdom of Saudi Arabia, TARSHID is a leader in the field of energy efficiency which is both a key component of this all-electric motorsport series and in regard to the government’s Saudi Vision 2030 policy.”

Alberto Longo, Co-Founder & Chief Championship Officer, Formula E, said: “We are honoured to welcome TARSHID as a partner of the 2023 CORE Diriyah E-Prix for a second successive season and the dawn of the GEN3 era in the ABB FIA Formula E World Championship. We share a common vision for a more sustainable and energy-efficient future and welcome the opportunity to bring that vision to life once again with our unique all-electric motorsport in Diriyah this weekend.”   

HH Princess Nouf bint Khalid Al Saud, Director General of Marketing at the Ministry of Sports said: “Having partners that share the same values is fundamental and the Diriyah E-Prix offers TARSHID a perfect association thanks to its energy efficiency focus. The ABB FIA Formula E World Championship is a sport that highlights the capabilities of electrification in mobility and it’s important to not only showcase that on the racetrack, but also in the infrastructure of the event. That makes TARSHID the perfect partner as we continue our journey in the world of electric motorsport.”



TARSHID is a national company owned by the Public Investment Fund and was established in 2017 with a vision to become the leading energy efficiency services company in the Kingdom, and to serve the national strategic goal of sustainability by making a great amount of energy saving. TARSHID aims to play a major role in the development of this sector by establishing a thriving energy efficiency industry in the Kingdom, attracting international cooperation to the Saudi energy efficiency services market, attracting foreign investments, and contributing to the creation of thousands of highly skilled jobs.