Through its Public Investment Fund, Saudi Arabia has made a huge investment in electric racing. Now, Saudi Entertainment Ventures, also known as SEVEN, a wholly owned subsidiary of PIF, is partnering with Formula E to build the world’s first Formula E-branded indoor karting attraction across multiple venues – Riyadh, Jeddah, Dammam, and Abha.

The announcement was made at the Diriyah E-Prix, where the ABB FIA Formula E World Championship double-header of races occurred this weekend.

With some tracks to be over 400 meters, the e-karting experience will involve junior and adult tracks and dual-driver karts. The first track is expected to be open to the public by 2025. 

Last week, the PIF, which has $700 billion assets under management, furthered its expansion in the sporting arena with the Electric 360 (E360) partnership to back Formula E, Extreme E, and E1 powerboat racing to support the growth of electric motorsports globally.

“Together with these championship series, Electric 360 will redefine electric sport and supercharge its growth, delivering tangible impact aligned with our broader business strategy as PIF drives new green technological innovation that will be the cornerstone of future electric mobility,” said Mohamed AlSayyad, Head of Corporate Brand at PIF.

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