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Brexit 'bad news': Formula E CEO

This weekend the curtain will fall on this season's fully electric FIA Formula E Championship as drivers race around Battersea Park in London.

While motor sport has traditionally been associated with gas guzzling, turbo charged and loud vehicles, Formula E represents a break from the past with its all electric cars.

Speaking to CNBC on Thursday, Formula E CEO Alejandro Agag said that a key aim of the championship was to "promote electric cars, make electric cars more popular so one day all the cars in the world are electric."

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The potential of clean transport is significant. The U.S. Department of Energy has said that if hybrid or electric vehicles completely replaced light-duty conventional ones, U.S. dependence on foreign oil could fall by between 30-60 percent. Plus, carbon pollution from the transport sector would fall by up to 20 percent.

Commenting on U.K. voters' decision to leave the European Union, Agag said it was "bad news, obviously for Europe and I think, really, this country."

"For my business it's short term good news," he added. "(The) pound went down a lot, we have a lot of income in euros, and we spend a lot in pounds, so we're making actually quite a bit of profit on the exchange. But I think (in)… the long term it's going to be tough for sponsors, for partners, but we have to get on with it and you know, keep working. We are committed to the U.K. anyway, this is our home.