Formula E racing will return to Battersea Park after Wandsworth councillors voted in favour of the event being staged again in 2016 and 2017.
A report to the community services scrutiny committee which approved the return said that June’s weekend of racing had been a success with more than 55,000 people attending – including around 9,000 Wandsworth residents.
Giving the event the green light for two more years also guarantees that Battersea Park will benefit from a total extra investment of £600,000 – a sum that could rise to £1m if the races are permitted for another two years beyond 2017.
Community services spokesman Cllr Jonathan Cook said: “I fully welcome and applaud this decision. It is the right decision for Battersea Park and also for the wider general population of Wandsworth.
“Granting permission for Formula E to return for the next two years means we have secured a total of £600,000 of new funding for a whole range of improvements in the park itself, and there are also additional sums we will receive that will be used to help fund frontline council services.
Formula E racing cars use electric motors that produce virtually no noise and no harmful emissions. They are powered by batteries that are charged up using a sea algae that produces water not exhaust fumes from technology invented by a south London firm. The advanced type of electric motors used in their racing cars are likely to be fitted as standard in the next generation of electrically powered family saloons and hatchbacks.