Came
you with the
The Formula E team plans to invest some money in renewable energy and driverless cars.
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- The team needs to see a return on investment to withdraw
- Etoro to swallow any loss costs in a one-year contract
DS Techeetah has signed a one-year sponsorship agreement with the Etoro trading platform for which the Formula E team must invest wisely to earn their fee.
According to City AM, Etoro will put £ 1 million in the UK in the team’s account on the platform, which DS Techeetah has to invest at a profit to see results. If the team loses the money, Etoro will swallow the cost.
“We always want to be at the forefront of innovation, which is one of the core values of Formula E and DS Techeetah,” DS Techeetah chief commercial officer Keith Smout told City AM.
“We have seen the benefits of investing in the financial markets, and we are excited about this partnership, as we aim to help explain investment to our fans throughout the season. . “
According to City AM, DS Techeetah will use Etoro’s CopyTrader feature to align their investments with some of the platform’s leading money makers. The Chinese-backed Formula E outfit is also holding some funds to bring back renewable energy and driverless car technology.
“We hope that by structuring our partnership in this unique way, we can raise awareness to more people around the world about the potential to grow their wealth through investment,” said global support manager. Etoro, Dylan Holman.
“We hope to work with more companies in the same way in the future.”
Etoro had previously struck contracts with several Premier League football clubs paid for in Bitcoin, but this partnership is considered to be the first of its kind.
Season seven of Formula E continues on April 10 in Rome, Italy.