The Formula E race in Hong Kong, which will kick off the third season of the series, will be held on the second day, with supporting races on the first day.

Of the 6,000 grandstand tickets, 2,000 went on sale on Tuesday for the Lung Wo Road site. The remainder of grandstand tickets will become available later.

There are 10,000 tickets at HK$300 each for the eVillage where fans can watch races on big screens.

Over the race weekend, the eVillage will provide attractions and entertainment with performances on mini-stages, children’s zones and an array of game booths and activities. The organisers are targeting 30,000 people for the total event.

“We consider the ticket price reasonable as this is a big international motor racing event,” said

Alan Fang, chief executive of Formula Electric Racing. “It was never our intention to offset the cost through gate receipts as the figure goes far beyond that.

“We are relying heavily on sponsorship deals to reduce the cost. Indeed, if we compare tickets for the Formula One event in Singapore, they charge much more than us at S$800 each (HK$4,500).”

However, fans in London have to pay only a maximum of £78 (HK$885) for each day of this season’s Formula E grand finale, to be held in Battersea Park on July 2 -3.

It is believed the organisers set aside a budget of HK$300 million for this October’s Hong Kong event, and it is expected to take place at least for two more years.

“We don’t expect any profit in the first few years, even with what we are charging for grandstand tickets,” said Lawrence Yu Kam-kee, president of the Hong Kong Automobile Association. “The price is affordable for fans and we are confident all tickets will be sold out.”