>>>What is the point of formula e?
At current rate of (still escalating) use, oil reserves will start to run out in our lifetime. As oil gets progressively more scarce, the price will rise and running a car on petrol or diesel will soon become prohibitively expensive for personal transportation. We will reach that position quite a long time before fossil fuel reserves run completely dry. Even if you are unconvinced by tree-hugging hippy new-age clean and green claptrap, there remains the fact that petrol pumps WILL run dry one day, so we need an alternative, and we had better start preparing for it NOW.
Motorsport has always been the hothouse for breeding new automotive technologies so it isn't that strange that electric propulsion is making its first tentative steps. Electric motors might, or might not, be the final answer to the problem, but it makes complete sense to see how far we can get with them.