And they’re off! Julius Baer, which as it announced in September is the exclusive global partner of the new FIA Formula E Championship, the world’s first fully-electric power racing series, was also named the title sponsor for the third round, held in Uruguay.

And they’re off! Julius Baer, which as it announced in September is the exclusive global partner of the new FIA Formula E Championship, the world’s first fully-electric power racing series, was also named the title sponsor for the third round, held in Uruguay.

The third race in the series was held at Punta del Este and won by Sébastian Buemi, driving for the E Dams Team. Perhaps satisfyingly for Julius Baer, Buemi hails from Switzerland. Nelson Piquet Jr (son of former Formula One racing driver Nelson Piquet), came second.

The championship comprises 10 races and is the first to be fully-electric, the Zurich-listed bank said in a statement today. UBS, Switzerland's biggest bank, is currently global sponsor for the more conventional Formula One championship.

The development of the "E" championship is seen as how moves to develop more efficient transport technologies can be boosted by the glamour and excitement of motor racing, even though purists might be switched off by the lack of sound that the cars might produce. To see a previous story about this championship, click here.